This is something I do every 2 weeks to keep myself up to date on the numbers in the areas I work in. I thought I would post the results for you out there as well.
These are for single family homes only in the areas I most often work in. I know there are other areas of Milwaukee that I am leaving out. If you have question on a particular area listed below or that I left out, please feel free to contact me.
The system I use is:
____ Active Listings
____ Sold in the last month
____ Month supply (Based on the number of homes sold in last month)
____ New homes (Listed in the last month)
Milwaukee
2252 Active Listings
144 Sold
15 Month Inventory
386 New Listings
Cudahy
68 Active
6 Sold
11 Month Inventory
10 New Listings
Franklin
134 Active
8 Sold
17 Months
13 New
Greendale
28 Active
2 Sold
14 Months
3 New
Greenfield
81 Active Listings
13 Sold
6 Month Supply
20 New
Oak Creek
129 Active listings
14 Sold
9 month
22 new
South Milwaukee
75 Active
5 Sold
5 Month
14 New listings
St. Francis
31 Active
2 Sold
15 month
4 New
Wauwatosa
200 Active
18 Sold
11 Month
40 New Listings
West Allis
282 Active
20 Sold
14 Months
45 New
There are certainly a lot of opportunities for realistic buyers in this market. Over all inventory is down and the amount of new homes coming on the market is down almost 50%.
It is a great time to be a seller as well, since there are curently less competing homes coming on the market, and sales are increasing every week. Bare in mind we usually expect the amount of new inventory to reach it's peak in July. So by waiting you will be among hundreds of other new listings.
Now is a great time in real estate to make a move. Despite all the negative media reports on the Real Estate market, it's important to remember that all real estate is local.
Milwaukee has really remained a stable place for those purchasing real estate and has actually seen a modest increase of close to 2% of average sold prices, while some other parts of the country are down 5%10%,20% or more.
http://MilwaukeeRealEstate4U.com
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