Wisconsin Real Estate & Wisconsin Living presented by First Weber Group

Some instances of multiple, competing offers spells pent up demand

April sales surged 44% over last April’s sales in the Metro Milwaukee area.  Local Realtors have been busy for months with increasing sales, even through the winter months, which may have been helped by the mild weather.  ”The activity is really, really robust right now, which is wonderful,” said Cindy Fleming of First Weber’s Brookfield office, as quoted in a Journal Sentinel article.  “At certain price points we’re seeing multiple offers. A lot of those are under $300,000 but even some in the $400,000 and $500,000 range are coming in with multiples.”

The buying opportunity may never be the same

Prices are not rebounding as well as sales, but the increased activity is creating enthusiasm among Realtors. Fleming says “People are finally more serious and I think they feel that we’ve hit bottom and they’re anxious to go – and rates are excellent.”  It is important to note that interest rates are at historic lows and low rates equal a lower monthly payment.  The excitement in the market, low rates, stable prices and a drop in new listings for the last few months all point to the road to recovery.  Will 2012 be the year for you to buy a home? The opportunity may never be the same.

Milwaukee County Home Sales

38.3% increase/April 2012: 910 vs April 2011: 658

Waukesha County Home Sales

46.4% increase/April 2012: 410 vs April 2011: 280

Ozaukee County Home Sales

68.9% increase/April 2012: 103 vs April 2011: 61

Washington County Home Sales

68.6% increase/April 2012: 118 vs April 2011: 70

Racine County Home Sales

12% increase /April 2012: 159 vs April 2011: 142  

data source Milwaukee MLS

We’re excited at these increases!

If you are a seller or buyer, you should be too.  More people buying should give homebuyers confidence in their decision to buy now.  Sellers, buyers are active!  Prepare your home continually to to attract an offer.  Check out your competition at firstweber.com.  Please contact a First Weber agent to discuss home sales in your particular area.  You may also search for sold prices at firstweber.com in the Southeast and South Central Wisconsin area free of charge and without an account. Sold searches in other parts of the state require registration for a free MyFirstWeber account first.

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog about a 44% increase inMetro Milwaukee real estate sales. Please contact First Weber with any Wisconsin real estate needs.

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Wisconsin home sales continue to improve, with March sales being up 25% over March 2011, according to the Wisconsin REALTORS Association.  South Central WI and Metro Milwaukee real estate also showed large growth in home sales.

While the milder winter may have contributed a bit to the growth in sales, it is important to note that home sales have been on the rise in Wisconsin for the last nine months.  All areas of Wisconsin have seen great improvement.

Take a look at home sales and prices by Wisconsin region during the first quarter compared to last year’s first quarter:

Southeastern Wisconsin (Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Washington and Waukesha Counties)

Sales up 20.8%, median price down 4.2%

South Central WI (Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock, Sauk Counties)

Sales up 19.8%, median price down 3.4%
Northeast WI (Brown, Calumet, Door, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Marinette, Menomonee, Oconto, Outagamie, Shawno, Waupaca, Winnebago Counties)

Sales up 26.3%, median price up 2.7%

Central WI (Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara, Wood counties)

Sales up 14%, median price up .2%

Northwoods Wisconsin (Ashland, Barron, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Langlade, Lincoln, Oneida, Polk, Price, Rusk, Sawyer, Taylor, Vilas, Washburn counties)

Sales up 12.4%, median price down 6.6%

Months of inventory is down, affordability index also down

In addition to increased sales over the last nine months, months of inventory is down and the affordability index is also down by 20 points from last month.  Make sure your home is priced just right and presents very well to take advantage of this increased buyer activity!  To see what homes have sold for in your neck of Wisconsin, please do a sold search at firstweber.com.  (Because of Multiple listing service rules, some MLS systems require yo to register for a free myFirstWeber account before viewing sold data. )

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for an update on the Wisconsin housing market. To find a First Weber agent or office, or search for Wisconsin real estate for sale, please search firstweber.com

March residential real estate sales in the Metro Milwaukee MLS area are at the best they’ve been in three years: Sales Metro MLS wide are up 26.5% over last March. (Source Milwaukee Metro MLS)

Here’s a look at the last three years of March sales in the entire Milwaukee MLS area:

March 2012: 1276 homes sold

March 2011: 1009 homes sold

March 2010: 1186 homes sold.

County Breakdown: Several counties experienced more than 50% increase in sales over last March

Milwaukee County up 17.1% over last March

March 2012: 732 homes sold

March 2011: 625 homes sold

March 2010: 7037 homes sold

Waukesha County real estate up 30.4% over last March

March 2012: 339 homes sold

March 2011: 260 homes sold

March 2010: 285 home sold

Ozaukee County real estate  is up a whopping 72.2%

March 2012: 93 homes sold

March 2011: 54 homes sold

March 2010: 58 homes solld

Washington County real estate  is up 60% over last March.

March 2012: 112 homes sold

March 2011: 70 homes sold

March 2010: 106 homes sold

Racine County real estate is up 38.5 over last March.

March 2012: 169 homes sold

March 2011: 122 homes sold

March 2010: 147 homes sold

This is great news for sellers. Make sure to take advantage of the busy market by revisiting your list price with your agent and position your home to stand out and sell.  While home sales are up, prices remain on the low side.  Keep this in mind if you have been on the market a long time.   What’s your goal? To sell or remain on the market?

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for an update on the Milwaukee real estate market.  For data on sold prices for homes in your area, please use First Weber’s Sold Property search or create a free My First Weber account.  A My First Weber account enables you to keep an eye on your competition and get updates via email.  For MLS listings across Wisconsin, please search firstweber.com

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Throughout Wisconsin, home sales are on the rise. February, 2012 was the eighth month of rising sales in Wisconsin, with a 15% increase over last February.  Home sale prices were very moderately down, just 1.7%. Sales started increasing last summer and thankfully, have continued their upward pace. The great spring weather helped. If you are a seller, do everything in your power to take advantage of buyer activity. If you are a buyer, you may have more competition.  Many areas of the country have seen a shift in the market. It will make its way to Wisconsin.

Each region in Wisconsin performed well in February, with Southeast Wisconsin leading the over 20% increase.

Sales by reqion: (source WRA)

Southeast Wisconsin (Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Waukesha and Walworth Counties)

Sales up 22.6%, median price down 4.1%

South Central Wisconsin (Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock and Sauk Counties)

Sales up 12.9%, no change in median price

Northeast Wisconsin (Brown, Calumet, Door, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Marinette, Menominee, Oconto, Outagamie, Shawno, Waupaca, Winnebago Counties)

Sales up 16.3%, median price up 1.3%

Central Wisconsin (Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara and Wood Counties)

Sales up 6.3%, median price down 2.5%

Northwoods, Wisconsin (Ashland, Barron, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Langlade, Lincoln, Oneida, Polk, Rusk, Sawyer, Taylor, Vilas and Washburn Counties)

Sales up 1.8%, median price down 5%

Another interesting trend is the number of new listings, the number of unsold homes on the market and the months supply of inventory are all down.  Combine this with a higher rate of sales and we should begin to see a more balanced market emerge.

For information on specific regions of Wisconsin, here is an update on South Central WI and on Metro Milwaukee real estate sales.

Thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog.

To see Wisconsin real estate for sale, please see firstweber.com where you can also search Wisconsin sold property data to see what that house down the street sold for. In some areas, a free MyFirstWeber account may be needed to view sold data due to MLS rules.

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Residential real estate sales continue to increase in double digit numbers in the metro Milwaukee area, the eighth month of such increases.  Activity is up in both showings and visits to firstweber.com.   This is great news for sellers and also buyers, who in seeing a surge of confidence and activity, may feel more comfortable in taking action.

County by County sales analysis (info from GMAR and Metro Milwaukee MLS)

Milwaukee County

Sales up 21.1% in February 2012 vs February 2011 (493 units sold vs 407)

Waukesha County

Sales up 32.1% in February 2012 vs February 2011 (222 vs 168)

Washington County

Sales up 33.3% in February 2012 vs February 2011 68 vs 51)

Ozaukee County

Sales up 20% in February 2012 vs February 2011 (42 vs 35)

Racine County

Sales up 30.5% in February 2012 vs February 2011 (114 vs 95)

Sellers, it is important to price your home right to take advantage of the buyer activity. If your home has been on the market for a long time, reevaluate your situation and price it to MOVE so you can get on with your life.  This waiting has been hard and getting an offer is just part of the process.  A good agent will help you through the rest of the hoops such as dealing with home inspection reports and appraisals and more.

And buyers, you may begin to see some more competition when viewing properties.  While every buyer wants a good deal, every buyer also wants the right house for themselves.  If you have found THE ONE, make an offer that reflects that feeling. You are already getting a good deal with these prices and interest rates.  Don’t lose out on THE ONE by taking a risk with an offer that is way off the list price.

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for information on the Milwaukee real estate market. We’re happy to report continued increases in sales metrowide.  Agents are busy and upbeat! To see what’s for sale in the Milwaukee area, as well as all areas of Wisconsin, please visit firstweber.com.

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