Hot off the press – the year end Metro Milwaukee MLS stats are in. Overall, the metro MLS sales were up 5.9% over 2008. That equals 14,321 homes and condos sold versus 13,523 in 2008.
If we do county by county, the overall results are positive.
Milwaukee County real estate: Sales up 11.3% over 2008. In 8 out of 12 months, 2009 sales beat 2008’s
Waukesha County real estate: Sales down a mere 1.9% compared to 2008. In 5 out of 12 months, 2009 sales beat 2008’s, including a 70% gain in November.
Ozaukee County real estate: Sales were up 1.4% over 2008. In 5 out of 12 months, 2009 sales beat 2008’s, including a 63.9% gain in June and 118.9% gain in November.
Washington County real estate: Sales up 1.7% over 2008. In 5 out of 12 motnhs, sales beat 2008’s, including a 114.3% increase in November.
Racine County real estate: Sales were down just 1.1% compared to 2008. Racine had 6 months in 2009 in which more real estate was sold than in 2008. Racine Country real estate showed a great December with an increase of almost 20% over last December.
Home prices were down, but not a tremendous amount. The price drop is said to be mostly a result of the sale of starter homes or those on the lower end of the price bracket which brings down the average sales price.
There’s no telling what is in the future for Wisconsin real estate in 2010, however, we expect a solid spring thanks to the extended and expanded home buyer tax credit. To qualify, a binding offer to purchase must be in place by April 30, 2010. The property must close by July 1st.
We hope you choose to work with First Weber in 2010. Thanks for reading.