Local Market update for SE Wisconsin - Rochelle Gamauf
 

Local Market update for SE Wisconsin

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

  1. Number of Pending Sales -Declined 📉across the board on all price ranges.  The average percentage of change is 12.7% in comparison to last year.  New construction pending sales also declined 📉 to 22.3% less than last year.
  2. Number of Days on Market-Declined 📉  to 18.8% 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 7.5% from last year for all properties. Single family homes (were previously owned) 📈 6.5% from $215,000 to $229,000. New construction single family homes increased 📈 7.5% from $399,050 to $428,900.  Condo median price point that were of existing complex Increased 📈 6.3% from last year from $159,900 to $170,000.  New Construction condo price point did not change.
  4. Inventory of Homes for Sale-Declined 📉  for Single family homes under $150,000 and condo sales Under $100,000. Less homes went for sale under these price points.  Surprising there have been an increase 📈 of homes all other price points. The new construction market has more inventory than it had last year.

Conclusion, if you are thinking about Selling your home now is good time there are plenty of buyers looking to purchase.  If you are looking to purchase depending on price range you will have competition.  I have seen as many as 23 offers for one home, this is high but the home was priced to sell and in a great location.Our team can help you with some strategies to gain an edge on competition.  

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 more listings than last year and the median sales price increased by 5.3% over last year.  Shorter days on the market -32.  Inventory is up 33.3% on single family homes and 37.5% on condos.
  • Lake Country North(Chenequa, Delafield, Hartland, Lac La Belle, Merton, Nashotah, North Lake, Oconomowoc + Lake, Okauchee, Pewaukee, Stone Bank and Summit)-There are more listings than last year and the median sales price increased by 19.1% over last year.  Days on the market increased slightly to 50.  Inventory is up 37.4% on single family homes and 31.3% on condos.
  • Lake Country South (Dousman, Eagle, Genesee, Mukwonago, North Prairie, Wales)-There are more listings than last year and the median sales price decreased 0.4% over last year.  Days on the market increased slightly to 50.  Inventory is up 37.4% on single family homes and 31.3% on condos.
  • Menomonee Falls-There are less listings than last year by 2 and the median sales price decreased by 10.9% over last year.  Days on the market decreased slightly to 35.  Inventory is up 72.9% on single family homes and declined -30.0% for condos.
  • Milwaukee-There are less listings than last year and the median sales price increased by 3.1% over last year.  Days on the market decreased slightly to 42.  Inventory is up 10.3% on single family homes and 25.3% on condos.
  • New/Berlin Muskego-There are more listings than last year and the median sales price increased by 4.9% over last year.  Shorter days on the market -23.  Inventory is up 50.6% on single family homes and 138.5% on condos.
  • North Shore-There are more listings than last year and the median sales price increased by 10.5% over last year.  Days on the market decreased slightly to 29.  Inventory is up 25% on single family homes and 8% on condos.
  • Waukesha-There are less listings than last year and the median sales price increased by 15.1% over last year.  Days on the market decreased slightly to 21.  Inventory is up 59.8% on single family homes and 94.7% on condos.
  • Wauwatosa-There are more listings than last year and the median sales price increased by 8.3% over last year.  Days on the market decreased slightly to 18.  Inventory is up 97% on single family homes and 33.3% on condos.
  • West Allis-West Milwaukee-There are more listings than last year and the median sales price increased by 4.9% over last year.  Days on the market decreased slightly to 23.  Inventory is up 50.6% on single family homes and 138.5% on condos.