Great article about downtown Milwaukee condo market as featured in My Midwest/Midwest Airlines newsletter. (author Jeanette Hurt)
A developer is interviewed as well as Heddy Humcke of First Weber Milwaukee’s Jeff Lien Team. Stats, pictures and insight. Click here for the full article and here are a few excerpts from Jenette Hurt’s interview/article below.
"I think that is just tremendous, and it’s very exciting for buyers," Humcke says of the fact that there were almost 900 active condo properties for sale in March, with half new construction and 20% with lake or river views.
Also says Humcke "Our market has not overinflated as many East and West Coast markets have. What we have seen is a correction, and we have seen a reduction in value, but one that is not as dramatic as the rest of the country. In fact, I’m starting to see an increase in volume, and our spring market has really picked up."
Hurt says high quality developments are surviving without price reductions and Developer Joseph Grasch, also interviewed, agreed saying "Developers who know they have a strong product and not dropping their prices because people are still coming in the door."
Some of First Weber’s current Milwaukee condo projects can be found here.