Oconomowoc Lake home sells for $7.75M in area’s priciest sale of the year

We are pleased to republish an article from the Milwaukee Business Journal highlighting the recent sale of a remarkable home in Oconomowoc, Wisconsin, for $7.75 million. This significant transaction underscores the strength of the luxury real estate market in the area. The buyer was skillfully represented by Matthew Krawczyk of Modern Realty Partners, a boutique brokerage known for its personalized service and deep market knowledge. Read on for more details about this exquisite property and the thriving real estate opportunities in Oconomowoc.

A luxury home on Oconomowoc Lake sold Friday for $7.75 million, fetching more than a million dollars less than the asking price. It still was the most expensive home sold in greater Milwaukee so far this year.

The property last sold for $5.5 million in March 2023, and those buyers completed a full renovation before listing the home for $9.22 million in late May 2024.

The property had 27 showings and three offers, listing agent Becky Thomas of Keller Williams Realty-Lake Country said in an email Monday. The buyer was represented by Matthew Krawczyk of Modern Realty Partners, a boutique brokerage founded by two local attorneys.

The property is so far the most expensive home sold in 2024 across Waukesha, Milwaukee, Washington and Ozaukee counties, according to the area’s multiple listing service. The four-county area’s most expensive home sold in 2023 was $7 million, and metro Milwaukee’s priciest home sold in 2022 was $15 million.

The property isn’t the only luxury home to sell recently for well below asking. Earlier this month, a River Hills mansion sold for $3.95 million after hitting the market for $5.99 million in 2021. The seller of the property, which had been on the market for years, was tied to the family that owns Milwaukee-based manufacturing firm Rite-Hite.

A different home on Oconomowoc Lake was recently on the market for nearly $13 million and was under contract in June before the listing expired earlier this month, according to MLS.

Also earlier this month, a home on Upper Nashotah Lake was listed for $8.4 million, making it among the highest-priced homes currently on the market in greater Milwaukee.

Original article published by the Milwaukee Business Journal: https://www.bizjournals.com/milwaukee/news/2024/07/22/oconomowoc-home-sells-for-7-75m.html