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 County
3665 Active listings
202 Sold
18 Month Inventory
856 Newly Listed homes
Inventory is coming down.
I like to break it down to the cities of Milwaukee county as well.
Milwaukee
2217 Active Listings
126 Sold
18 Month Inventory
508 New Listings
Cudahy
71 Active
2 Sold
35 Month Inventory
20 New Listings
Franklin
139 Active
9 Sold
15 Months
29 New
Glendale
70 Active
1 Sold
70 Months
11 New listings
Greendale
27 Active
1 Sold
27 Months
7 New
Greenfield
79 Active Listings
8 Sold
10 Month Supply
21 New
Oak Creek
120 Active listings
7 Sold
17 month
28 new
South Milwaukee
73 Active
2 Sold
37 Month
18 New listings
St. Francis
33 Active
1 Sold
33 month
10 New
Wauwatosa
194 Active
9 Sold
22 Month
46 New Listings
West Allis
297 Active
14 Sold
21 Months
74 New
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 County
3665 Active listings
202 Sold
18 Month Inventory
856 Newly Listed homes
Inventory is coming down.
I like to break it down to the cities of Milwaukee county as well.
Milwaukee
2217 Active Listings
126 Sold
18 Month Inventory
508 New Listings
Cudahy
71 Active
2 Sold
35 Month Inventory
20 New Listings
Franklin
139 Active
9 Sold
15 Months
29 New
Glendale
70 Active
1 Sold
70 Months
11 New listings
Greendale
27 Active
1 Sold
27 Months
7 New
Greenfield
79 Active Listings
8 Sold
10 Month Supply
21 New
Oak Creek
120 Active listings
7 Sold
17 month
28 new
South Milwaukee
73 Active
2 Sold
37 Month
18 New listings
St. Francis
33 Active
1 Sold
33 month
10 New
Wauwatosa
194 Active
9 Sold
22 Month
46 New Listings
West Allis
297 Active
14 Sold
21 Months
74 New
It's understandable that these numbers might be discouraging if you're considering buying or selling. But is important to keep in mind that January is always the slowest month of the year for Milwaukee real estate. In fact that is why I usually try to spend as much of the month of January on vacation, usually in Mexico.
So from here out we will see improvement for the rest of the year. As you might have heard sales are down, but as this survey shows, the amount of inventory is down about 20-30%. Most home sellers like to list their homes in the spring, so keep in mind that if you're also thinking of waiting, you will also be listing in time to face the most competition.
With market conditions it could take 3-6 months to sell,add to that the 45 days it takes to remove contingencies and you can expect a closing date of around June 15th if you were to list today. So the question is do you want to be sold by then or do you want to start selling then?
Buyers there are tremendous opportunities available in the market, especially when it comes to foreclosure properties. Your time frame is also something to consider. It can usually take about a month to find your new home, and 45-90 days to close. Which would put you on track for a closing in April or May. Perfect moving weather. There are alot of buyers as well that are waiting for spring as well to start looking for new homes. By waiting you may find yourself bidding on a property against other buyers. Leaving you with less negotiating options.
http://BayViewRealEstate4U.com
http://AndrewBaumbach.com
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