May 2018 Market Report for Milwaukee WI

By
Real Estate Agent with RE/MAX Realty Center
MARKET REPORTS: MAY 2018
 
Just like last year at this time, prospective home buyers should expect a
competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.

New Listings in the Milwaukee region decreased 5.1 percent to 2,678. Pending Sales were down 60.4 percent to 893. Inventory levels rose 4.2 percent to 4,960 units. 

Prices continued to gain traction. The Median Sales Price increased 7.6 percent to $215,000. Days on Market was down 20.8 percent to 38 days. Buyers felt empowered as Months Supply of Inventory was up 17.2 percent to 3.4 months.

Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago.
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.
 
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.

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!

 

 

ires

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Tags:
milwaukee realtor
milwaukee real estate update
may 2018 market report for milwaukee wi
what is going on in real estate in milwaukee
buyer agent milwaukee wi

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,916,954
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Kristen always enjoy viewing information on other communities, especially when they involve one of my favorite cities.  Thanks for sharing with us in AR Land.

Jun 17, 2018 01:25 PM #1
Rainmaker
1,054,756
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good day 

Thank you for sharing your information with us 

Have a great day.

Jun 17, 2018 02:20 PM #2
Rainmaker
1,602,886
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Have a great rest of the weekend!

Jun 17, 2018 03:53 PM #3
Rainmaker
1,520,992
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Kristin, thank you for the May market report for Milwaukee. You are always on top of the latest trends!

Jun 18, 2018 04:53 AM #4
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Jun 18, 2018 05:09 AM #5
Rainmaker
3,144,271
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kristin,  Great blog to start the week out with and keep us inform of what is happening in your area.

 

Jun 18, 2018 08:00 AM #6
Rainmaker
2,005,837
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Hi Kristin Johnston - REALTOR® - All ActiveRain Agents who are in need of referrals for the Milwaukee area should refer their clients to you. Nobody does it better than you and you always work well, building solid relationships and you get the job done professionally. 

Jun 21, 2018 06:39 AM #7
Rainmaker
3,110,242
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Thanks to every one of you for making the comments!  I appreciate them!

Jun 21, 2018 07:12 AM #8
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
3,110,242

Kristin Johnston - REALTOR®

Giving Back With Each Home Sold!
Do You Have A Real Estate Question?
*
*
*
*
Spam prevention

Additional Information