Milwaukee area real estate sales continued their rebound in January, with a 15.5% increase in sales compared to last January. December was also quite strong. Showings of First Weber listings were up in December- an odd time for showings to typically be strong. In January, most regions in Wisconsin also had an increase in showings, with Metro Milwaukee showing the biggest increase: 2294 First Weber showings in January 2012 vs 1777 First Weber showings in January 2011.
Besides the trend of increased activity, another factor to note is the decrease in number of new listings. There were 2189 new listings in January 2012 versus 2700 in 2010 and 2200 in January 2011. If this trend continues, supply and demand could be affected, tipping the scales to a more balanced market, rather than a heavily weighted buyer’s market.
Sales by County are noted below. (information from Metro MLS)
Milwaukee County: Best January in 3 years with 444 homes sold
Waukesha County: Best January in 3 years with 193 homes sold
Ozaukee County: January sales even with last year
Washington County: Best January in 3 years with 64 homes sold in January.
Racine County: Best January in 3 years with 99 homes sold in January.
As we all know, home prices are still on the low side. Most of the homes sold in the counties above were in the under $200,000 range. However, the increased activity is an exciting thing to see as we look towards what we hope is the light at the end of this tunnel.
What to do now?
If you want your home to get some of this buyer action we’re seeing, you’ve got to seriously position it to sell. That may mean staging, repairs, some remodeling, and perhaps a price change. Read this previous post titles “Are you and your home REALLY for sale?” Talk to your real estate agent and take a serious look at your competition. Look at sold prices in your neighborhood. Remember, what you may lose in sale price, you can gain in your next purchase. See what’s available in your price range at firstweber.com. You may be surprised to see what your money can buy with the current home prices and interest rates.
Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for an update on Milwaukee area real estate sales. As reports for more areas in Wisconsin become available, we’ll share those with you. If you liked this post, please share it.