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June Real Estate Report for Milwaukee WI

By
Real Estate Agent with RE/MAX Platinum
 
June 2016
 
Halfway through 2016, residential real estate markets are performing as
predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months' supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive. New Listings in the Milwaukee region increased 1.6% to 2,724. Pending Sales were down 35.5% to 1,329. Inventory levels fell 8.9% to 6,999 units.

Prices were fairly stable. The Median Sales Price decreased 0.7% to $206,000. Days on Market was down 16.9% to 59 days. Sellers were encouraged as Months Supply of Inventory was down 9.4% to 4.8 months.

The national unemployment rate recently dropped 0.3% to 4.7%, but some states felt more of a pinch in their own figures. Similarly, the low inventory situation is showing signs of strain in markets where there are few homes for purchase. With an interest rate increase still in the cards this year, combined with the American political landscape and global economic events, a cooldown could occur by winter. Presently, however, summery growth prevails as many locales are reaching near-record prices not seen in more than a decade.
 
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
 
Please contact your respective MLS with any questions. You may also follow our updates at  http://twitter.com/metromls.
 
Metro MLS members can call the Help Desk at 414-778-5450 or email support@metromls.com.
Posted by

 GIVING BACK WITH EACH HOME SOLD!

 

Kristin Johnston

Realtor, ABR, EPRO

RE/MAX Platinum

414 254 6647

kjohnston5@wi.rr.com

 

 

 

Comments (6)

Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Kristin Johnston, Waukesha County Realtor 414-254-6647 Great market report confirming that economic trends can be predictable. Thanks!

Jul 14, 2016 03:18 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Home buyers and sellers in the area will appreciate this information.

Jul 14, 2016 08:48 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Thank you Sandy NOrm and Gita!

Jul 14, 2016 11:48 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing your local market report.

Have an outstanding weekend.

Jul 16, 2016 03:15 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Kristin 

Half way through 2016 the Milwaukee Wisconsin real estate market is in great shape and has positive forward momentum.

Good luck and success.

Lou Ludwig

Jul 16, 2016 12:54 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Thank you ROy and Lou!

Jul 17, 2016 12:23 AM