The curtain closes and the first half of 2015 is a finished act. Monthly market
analysis helps nudge the real estate story forward for a final bow. The orchestra
(consumers) and conductor (the REALTOR®) are thanked. Metropolitan markets across the country continue to improve and further perform at
peaks not seen in years. Bad memories from that one lousy show known as the
Great Recession are pushed even further into the past.
New Listings in the Milwaukee region decreased 5.1 percent to 2,657. Pending
Sales were down 21.9 percent to 1,396. Inventory levels fell 2.7 percent to 8,210
Prices continued to gain traction. The Median Sales Price increased 11.2
percent to $209,000. Days on Market was down 6.0 percent to 70 days. Sellers
were encouraged as Months Supply of Inventory was down 6.3 percent to 6.0
Having six months of 2015 data in the books is great, but it is still just
intermission at this halfway point of the year. Forecasting market trends can be
as dicey as the weather, but with interest rates managing to remain low into the
summer months, the outlook is promising, even if rates go up later in the year.
Metrics like inventory and percent of list price received at sale are two of the
better understudies to watch this year.
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.
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