Metro Milwaukee real estate update from First Weber

January 17, 2011

Milwaukee,WI.

Metro Milwaukee area real estate sales ended 2010 on a high note with December 2010 sales up 3.5% over December, 2009, according to Metro MLS statistics.  Recent home buyers have taken advantage of the tremendous Metro Milwaukee real estate values in the area.  Will you?

While it is great to have a good month of sales to finish off the year, overall sales around metro Milwaukee were down 13% in 2010. 12,367 homes were sold in the 4 country metro Milwaukee area versus 14,321 the previous year.

Predeictions are for a slow recovery and slowly rising rates.  Home prices are on a slow rise too.

Average Sales Price Waukesha County: $272,233 vs $268,145 in 2009

Average Sales Price Washington County: $202,347 vs $197,624 in 2009

Average Sales Price Ozaukee County: $287,464 vs $286,088 in 2009

Average Sales Price Milwaukee County: $143,145 vs $137,324 in 2009

(Racine’s average sale price was down to $145,225 from $152,221 in 2009)

The average sales price metro-wide was $206,758, 2% higher than last year but 8.5% lower than 2008.

More information on the Milwaukee real estate market

These numbers give you an overview of the market – but different towns, even neighborhoods matter.  Talk to your First Weber agent about your hyper-local area to see what is pertinent to your particular situation.

Another prediction is that home prices will continue to fall in early 2011 as foreclosed properties are released to the market, adding to an already high inventory.  To sell, you must make your price compelling.  Price it to sell NOW and move on to other great opportunities at great prices. Here’s an excellent article on why home prices are predicted to soften more.

Thank you for reading the First Weber Wisconsin real estate blog for an overview on the metro Milwaukee real estate market.  Talk to a First Weber real estate agent about your specific area and keep in mind: Real estate is a long term investment.

photo credit http://www.flickr.com/photos/[email protected]/4393125353/

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