Months of inventory down in Wisconsin

August 28, 2012

 

A search of quarterly real estate statistics in 5 areas of Wisconsin show one thing in common: in all areas, the months of housing inventory for sale is down.  Months of inventory is also called “absorption rate”, meaning the time it would take to sell off all the inventory for sale based on the current rate of sales.   A balanced market is typically six months of inventory, higher than six leans towards a buyer’s market and less than six months leans toward a seller’s market.

Here’s a look at Waukesha

Year-Quarter 2010-3 2010-4 2011-1 2011-2 2011-3 2011-4 2012-1 2012-2
On Market 472 385 433 443 415 316 313 351
Sales 108 101 97 176 172 117 137 205
Months of Inventory 13.1 11.4 13.4 7.6 7.2 8.1 6.9 5.1

 

Shawno:

Year-Quarter 2010-3 2010-4 2011-1 2011-2 2011-3 2011-4 2012-1 2012-2
On Market 426 369 361 447 409 382 405 397
Sales 63 49 52 70 83 44 48 69
Months of Inventory 20.3 22.6 20.8 19.2 14.8 26.0 25.3 17.3

 

Wausau:

Year-Quarter 2010-3 2010-4 2011-1 2011-2 2011-3 2011-4 2012-1 2012-2
On Market 570 520 506 569 514 451 477 574
Sales 116 110 90 143 132 120 96 165
Months of Inventory 14.7 14.2 16.9 11.9 11.7 11.3 14.9 10.4

 

Janesville:

Year-Quarter 2010-3 2010-4 2011-1 2011-2 2011-3 2011-4 2012-1 2012-2
On Market 554 509 505 513 510 426 405 465
Sales 142 145 111 171 169 144 150 199
Months of Inventory 11.7 10.5 13.6 9.0 9.1 8.9 8.1 7.0

 

and Lakewood:

Year-Quarter 2010-3 2010-4 2011-1 2011-2 2011-3 2011-4 2012-1 2012-2
On Market 32 25 24 32 26 18 18 19
Sales 1 2 2 2 9 2 0 7
Months of Inventory 96.0 37.5 36.0 48.0 8.7 27.0 N/A – No sales for period 8.1

As you can see, several areas have changed quite dramatically over the past few years.  If you are thinking of buying, there is less to choose from and if you are selling, there is less competition. Talk to a First Weber agent about your particular community to see specific statistics about the months of inventory in your area.  Homes still need to be priced correctly in order to sell.

 

Thank you for reading the First Weber Wisconsin real estate and Wisconsin living blog for information of months of inventory for sale. To see real estate for sale in Wisconsin, please see firstweber.com. To keep track of what’s happening in the Wisconsin real estate market, get to know one of our agents or sign up for a free My First Weber account.

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