Brought to you by April Hayden-Munson, I am a Realtor in Southeastern Wisconsin, welcome to my Blog.
Great news - just announced: Home Sales Up 25.8% in June - This is the 12th month with increased sales over the previous year.
28.6% for the 2nd Quarter
These stats come from a Market report for the Milwaukee Wisconsin Real Estate Market which was sent out today by the Greater Milwaukee Association of Realtors
The 4-county Metropolitan Milwaukee housing market continued its strong increase in June posting a 25.8% increase in sales.
June was the 12th consecutive month in which home sales increased by double-digits. I think the perfect storm is here. With a combination of historically low interest rates, lower prices than we've seen in quite some time and a bit of pent up demand the market is responding tremendously despite recent fluctuations in consumer confidence.
June also saw a 12.9% decline in homes listed for sale, continuing a recent trend as sales increased. I've seen many hesitant sellers to go onto the market while it's been a buyer's market. However, in today’s market the contraction of listings has led to a tight level of inventory, now at only 6.3 months.
The combination of higher sales and lower inventory should yield price pressure in the near future, making it a great time to sell your home if you've been waiting. I would also like to point out that buyers should move to make a purchase now, don't wait for inventory to dwindle and create a seller's market where you will pay more to purchase a home.
County-by-County Sales Analysis for June compared to 2011:
• Milwaukee County up 27.2% in sales (969 units vs. 762 units)
• Waukesha County was up 20.3% (534 sales compared with 444)
• Washington County was up 54.8.% (161 vs. 104)
• Ozaukee County also up 11.0% (121 units vs. 109 units)
• Racine County up 2.1% in sales (198 units vs. 194 units)
• Kenosha County was down 5.7% in sales (164 units vs. 174 units)
• Walworth County up 34.7% in sales (132 units vs. 98 units)
County-by-County Sales Analysis for the 2nd Quarter compared to 2011:
• Milwaukee County up 25.2% in sales (4,555 units vs. 3,639 units)
• Waukesha County was up 31.7% (2,245 sales compared with 1,705)
• Washington County was up 43.8% (667 vs. 464)
• Ozaukee County also up 29.0% (503 units vs. 390 units)
• Racine County up 11.4% in sales (945 units vs. 848 units)
• Kenosha County was up 11.0% in sales (836 units vs. 753 units)
• Walworth County up 21.9% in sales (613 units vs. 503 units)
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You can find great local Milwaukee Wisconsin area real estateinformation on Localism.com April Hayden-Munson Realtor, Southeastern Wisconsin is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business. Serving Milwaukee, Waukesha, Washington counties and the surrounding area.