While it is true it is a difficult time in real estate right now, it is also true that real estate has traditionally been a smart investment and builds personal wealth.
The following statistics come from quarterly reports from the Metro Milwaukee Multiple Listing Service.
In all counties, the average sales price shows an increase over since 2004, a relatively short period of time. (DOM means Days on Market)
2008 year to date # Sold / Ave $ / DOM
2004 # Sold / Ave $ / DOM
|Kenosha||824 / $191,649 / 106||1323 / $170,252 / 70|
|Milwaukee||3923 / $177,097 / 106||5645 / $149,728 / 59|
|Ozaukee||383 / $319,707 / 123||649 / $282,144 / 102|
|Racine||956 / $178,078 / 118||1322 / $160,990 / 59|
|Sheboygan||532 / $163,383 / 108||684 / $143,288 / 86|
|Walworth||477 / $295,563 / 142||917 / $226,988 / 114|
|Washington||651 / $215,163 / 117||872 / 214,512 / 79|
|Waukesha||1934 / $282,993 / 101||2464 / $273,413 / 66|
I would love to be a first time buyer out there right now. There are great properties priced so right – plus there is the first time buyer tax credit – available only for a limited time! Don’t kick yourself and miss out. The credit is good through purchases made by July 9th, 2009. I can just imagine how busy the closing department will be on that day! Since it takes a few months to find a house, apply for a mortgage and prepare for closing, why not get started now?
You can look anonymously at thousands of properties acorss the state at firstweber.com – even get listings sent via email. If you are not ready to contact an agent right now, at least start looking so you can jump in when ready to call or email us. We are proud to say firstweber.com features not just our listings, but listings all across the state in 5 MLS systems. It is a great place to start!