May's Local Market update for SE Wisconsin - Rochelle Gamauf
 

May’s Local Market update for SE Wisconsin

Here is what is happening in our local South Eastern Wisconsin Market.  Based upon May’s report supplied from Metro MLS, May 2018 vs May 2019. Based upon a rolling 12- month average. 

  1. Number of Pending Sales -Declined 25.6% 📉.
  2. Number of Days on Market-Declined 📉  to 13.2% less time of the market than last year.  This is the time period from first listing until the sale of the home.
  3. Median Price Point-Has increased 📈 to 14.2% to $245,500.
  4. Inventory of Homes for Sale-📈 Inventory of homes have increased to 32.5% over last year at same time.

According to Keeping Current Matters, we are still in a Strong Economy, unemployment rate is low, wages are increasing, mortgage rates still at historical low, inventory is increasing.  My opinion was at the beginning of this year inventory was sluggish new listing and many more buyers, so fewer pending sales.  I see that the inventory has been picking up for the last few months.  According to Nerd Wallet, “More than 2 in 5 of those planning to sell in the next 18 months say recent shifts in the housing market have them selling sooner than initially planned.”

You can search option below or let’s chat and I can send you a custom search. 

 

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  • Brookfield/Elm Grove-There are 15.3% more new listings and the median sales price increased by 3.1% to $329,500 (May).  May’s inventory is up 46.8% on single family homes and 100% on condos. There are 283 actives, 47% have accepted offers and  are available.  There are 149 single family homes available from $194,900-$3,300,000.*
  • Germantown/Richfield-There are 14% more new listings and the median sales price increased by 3.8% to $303,000 (May).  May’s inventory is up 76.3% on single family homes and 81.8% on condos. There are 476 actives, 21% have accepted offers and 493 are available.  There are 60 single family homes available from $174,900-$1,154,000.*
  • Lake Country North(Chenequa, Delafield, Hartland, Lac La Belle, Merton, Nashotah, North Lake, Oconomowoc + Lake, Okauchee, Pewaukee, Stone Bank and Summit)-There are 17.3% less new listings and the median sales price increased by 7.9 to $364,000 (May).  May’s inventory is up 27.7% on single family homes and 40% on condos. There are 718 actives, 31% have accepted offers and 493 are available.  There are 255 single family homes available from $169,000-$5,995,000.*
  • Lake Country South (Dousman, Eagle, Genesee, Mukwonago, North Prairie, Wales)-There are 7.1% more new listings and the median sales price decreased 0.2% to $341,900.  May’s Inventory is up 91% on single family homes and 116.7% on condos. There are 296 actives, 27% have accepted offers and 216 are available.  There are 96 single family homes available from $89,500-$2,149,000.*
  • Menomonee Falls-There are 8.4% less new listings and the median sales price increased by 23.4% to $349,950 (May). May’s inventory is up 72.7% on single family homes and declined -29.4% for condos. There are 220 actives, 37% of them have accepted offers and 138 are available.  There are 67 single family homes available from $134,300-$999,000).*
  • Mequon/Thiensville-There are same new listings as last May and the median sales price increased by 16.1% to $400,500 (May).  May’s inventory is up 4.7% on single family homes and 75% on condos. There are 212 actives, 32% of them have accepted offers and 144 are available. There are 95 single family homes available from $249,900-$1,995,000.*
  • Milwaukee-There are 7.0% less new listings and the median sales price increased by 5.9% to $143,000 (May).  May’s inventory is up 11.3% on single family homes and 10.2% on condos. There are 1770 actives, 43% of them have accepted offers and 1006 are available. There are 506 single family homes available from $2,000-$1,800,000.*
  • Milwaukee South Side (St. Francis, Cudahy, South Milwaukee and Oak Creek) There are 5.8% less new listings and the median sales price increased by 21% to $200,000 (May).  May’s inventory is up 66.7% on single family homes and 5% on condos. There are 275 actives, 51% of them have accepted offers and 136 are available. There are 69 single family homes available from $60,00-$560,000.*
  • Milwaukee South West (Franklin, Greendale, Greenfield, Hales Corners) There are 11.9% less new listings and the median sales price increased by 8.6% to $240,000 (May).  May’s inventory is up 51.6% on single family homes and 29.3% on condos. There are 407 actives, 43% of them have accepted offers and 233 are available. There are 106 single family homes available from $58,500-$1,025,000.*
  • New/Berlin Muskego-There are 22.1% more listings and the median sales price increased by 9.2% to $292,000 (May).  May’s inventory is up 65.2% on single family homes and 266.7% on condos. There are total of 275 actives, 44% of them have accepted offers and 154 are available.  There are 74 Single family homes available from $159,000-$2,575,000.*
  • North Shore(Bayside,Brown Deer, Fox Point, Glendale, Shorewood, Whitefish Bay)-There are 9.1% less new listings and the median sales price increased by 8.4% to $306,000 (May).  May’s inventory is up 28.4% on single family homes and 11.1% on condos. There are a total of 331 actives, 44% of them have accepted offers and 186 are available.  There are 160 single family homes available from $72,000-$10,000,000.*
  • Waukesha-There are 17.2% less new listings and the median sales price increased by 12% to $260,500 (May).  May’s Inventory is up 58.7 on single family homes and 0% on condos. There are total of 294 actives, 53% of them have accepted offers and 137 are available.  There are 80 Single family homes available from $155,000-$825,000.*
  • Wauwatosa-There are 7.9% less new listings than last year and the median sales price increased by 16.8% to $273,700 (May).  May’s inventory is up 97% on single family homes and 33.3% on condos. There are total of 180 actives, 63% of them have accepted offers and 66 are available.  There are 67 single family homes available from $139,900-$759,000.*
  • West Allis-West Milwaukee-There are 22.1% more new listings and the median sales price increased by 9.2% to $292,000 (May).  May’s inventory is up 65.2% on single family homes and 266.7% on condos. There are total of 188 actives, 66% of them have accepted offers and 63 are available.  There are 43 single family available from $73,700-$245,000.*

*Note this was effective as of 6/17/2019 at 5:04 pm, all types of homes SF, Condo, Two or units and Land