Here is the market snapshot for Menomonee Falls Wisconsin Real Estate for the month ending February 2008.
Number of Active Listings: 170
Number of New Listings: 39
Under Contract: 20
Closed Sales: 30 (down from 53 a year ago)
Average Sales Price: $264,734 (down from $278,615 in 2007)
Average Days on Market: 111 (up from 96 in 2007)
What does this mean?? Menomonee Falls has an over supply of inventory. Around 12 months of inventory to be exact (30 closed sales and 20 pending, with over 170 current listings)
This varies from price range to price range, and differs in various neighborhoods throughout the Village, of course, but the overall picture would indicate that prices in Menomonee Falls may continue to decline slightly over the next several months, until this inventory starts to sell. If you are planning on selling your home, pricing it correctly with a thorough market analysis is an absolute MUST.
Our sales numbers may be a bit off due to the inclement weather we have experienced since the beginning of the year. Keep an eye out for my monthly updates. If you have any comments or questions, feel free to contact me at www.MoveWithApril.com or call 262-787-3043
Thanks for reading and see you next month!!