Some instances of multiple, competing offers spells pent up demand
April sales surged 44% over last April’s sales in the Metro Milwaukee area. Local Realtors have been busy for months with increasing sales, even through the winter months, which may have been helped by the mild weather. “The activity is really, really robust right now, which is wonderful,” said Cindy Fleming of First Weber’s Brookfield office, as quoted in a Journal Sentinel article. “At certain price points we’re seeing multiple offers. A lot of those are under $300,000 but even some in the $400,000 and $500,000 range are coming in with multiples.”
The buying opportunity may never be the same
Prices are not rebounding as well as sales, but the increased activity is creating enthusiasm among Realtors. Fleming says “People are finally more serious and I think they feel that we’ve hit bottom and they’re anxious to go – and rates are excellent.” It is important to note that interest rates are at historic lows and low rates equal a lower monthly payment. The excitement in the market, low rates, stable prices and a drop in new listings for the last few months all point to the road to recovery. Will 2012 be the year for you to buy a home? The opportunity may never be the same.
Milwaukee County Home Sales
38.3% increase/April 2012: 910 vs April 2011: 658
Waukesha County Home Sales
46.4% increase/April 2012: 410 vs April 2011: 280
Ozaukee County Home Sales
68.9% increase/April 2012: 103 vs April 2011: 61
Washington County Home Sales
68.6% increase/April 2012: 118 vs April 2011: 70
Racine County Home Sales
12% increase /April 2012: 159 vs April 2011: 142
data source Milwaukee MLS
We’re excited at these increases!
If you are a seller or buyer, you should be too. More people buying should give homebuyers confidence in their decision to buy now. Sellers, buyers are active! Prepare your home continually to to attract an offer. Check out your competition at firstweber.com. Please contact a First Weber agent to discuss home sales in your particular area. You may also search for sold prices at firstweber.com in the Southeast and South Central Wisconsin area free of charge and without an account. Sold searches in other parts of the state require registration for a free MyFirstWeber account first.
Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog about a 44% increase inMetro Milwaukee real estate sales. Please contact First Weber with any Wisconsin real estate needs.