According to a report by Inman News Serivce on March 3, 2008 the Milwaukee area Real Estate Market leads 25 of the largest metro areas in the country in year-over-year gain in price per square foot of homes, increasing by 4.9 per cent. According to real estate research and analytics company Radar Logics, Inc. the average price per square foot in Milwaukee is $112.53.
Sacramento, Ca had the largest decline, 23.7 in price per square foot, down to $172.54. The highest square foot price in the report is in San Jose, Ca at $437.18 per square foot. (Give about 560 sq. ft. please.)
(Oct. 2007) Morgan Stanley, Lehman Brothers and Merrill Lynch signed licensing agreements with New York-based Radar Logic Inc. for its Residential Property Index, or RPX.
Radar Logic uses proprietary modeling techniques to create "daily prices" derived from actual prices paid for U.S. residential real estate. The indices are based on the price per square foot in 25 markets and a composite index, and will be published nine weeks after the actual closing date. The indices will be published each day for several time periods: daily, seven days and 28 days.
Positive news is always welcome!
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