October was a fantastic month for Metro Milwaukee residential real estate! (November had good news too, but we'll get to that later) These statistics are courtesy of the Metro Milwaukee Multiple Listing Service.
Sales soared 33% over October of last year.
1191 homes were sold MLS wide October, 2007.
1093 homes were sold October, 2008
1464 homes were sold this October, 2009.
The First Time Homebuyer credit certainly had something to do with this. The credit, due to expire November 30, had many buyers scrambling to close by then. Thankfully, on November 7, 2009, the credit was extended until April 30, 2009 with extra time added to close. (That's November's good news so far) Normally, November's sales slow down - a simple seasonal thing. It will be very interesting to see November's sales this year. I am betting they will be strong!
This is all great news for Wisconsin homeowners! If you have Wisconsin real estate market question, please send us a comment and let us know what you are looking for.
The Moderne condominiums in downtown Milwaukee, Wisconsin is approved and expected to break ground in December.
You can see individual units listed for sale through First Weber Group here, more on this condo project at this project page on firstweber.com, or at this Moderne website or at this article in BizTimes.com
The development has a prime location at Juneau and Old World Third Street in downtown Milwaukee. First Weber Group has been marketing The Moderne for several years. We're thrilled to see the approval come through.
Take a look at the links above and let us know your thoughts on The Moderne condos.
Wednesday, November 11. 2009
The real estate market in most of the counties in Metro Milwaukee is becoming more balanced. The third quarter stat report from the Metro Milwaukee MLS ranks counties from a 1 (buyer's market) to a 5 (seller's market). We're happy to report that Milwaukee County, Waukesha County, Ozaukee County, and Washington County are ranked as 3, indicating balanced. Racine County was ranked as 2, showing a slight lean to the buyer's market side. The "days on market" for all these counties went down slightly, meaning it took less time to sell.
Third quarter, 2009 sales in Milwaukee, Waukesha, Ozaukee, Racine and Washington Counties were all up over second quarter, 2008 as shown below:
| County | # homes sold 2nd Q 2008 | # homes sold 3rd Q 2009 |
| Milwaukee | 1578 | 1730 |
| Waukesha | 827 | 985 |
| Ozaukee | 179 | 214 |
| Racine | 390 | 413 |
| Washington | 265 | 289 |
The Homebuyer tax credit was extended and expanded to include current homeowners. This should have an additional boost on sales. When you're ready to search for a new home, please do so at firstweber.com