A search of quarterly real estate statistics in 5 areas of Wisconsin show one thing in common: in all areas, the months of housing inventory for sale is down. Months of inventory is also called “absorption rate”, meaning the time it would take to sell off all the inventory for sale based on the current rate of sales. A balanced market is typically six months of inventory, higher than six leans towards a buyer’s market and less than six months leans toward a seller’s market.
Here’s a look at Waukesha
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Shawno:
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Wausau:
| Year-Quarter | 2010-3 | 2010-4 | 2011-1 | 2011-2 | 2011-3 | 2011-4 | 2012-1 | 2012-2 |
| On Market | 570 | 520 | 506 | 569 | 514 | 451 | 477 | 574 |
| Sales | 116 | 110 | 90 | 143 | 132 | 120 | 96 | 165 |
| Months of Inventory | 14.7 | 14.2 | 16.9 | 11.9 | 11.7 | 11.3 | 14.9 | 10.4 |
Janesville:
| Year-Quarter | 2010-3 | 2010-4 | 2011-1 | 2011-2 | 2011-3 | 2011-4 | 2012-1 | 2012-2 |
| On Market | 554 | 509 | 505 | 513 | 510 | 426 | 405 | 465 |
| Sales | 142 | 145 | 111 | 171 | 169 | 144 | 150 | 199 |
| Months of Inventory | 11.7 | 10.5 | 13.6 | 9.0 | 9.1 | 8.9 | 8.1 | 7.0 |
and Lakewood:
| Year-Quarter | 2010-3 | 2010-4 | 2011-1 | 2011-2 | 2011-3 | 2011-4 | 2012-1 | 2012-2 |
| On Market | 32 | 25 | 24 | 32 | 26 | 18 | 18 | 19 |
| Sales | 1 | 2 | 2 | 2 | 9 | 2 | 0 | 7 |
| Months of Inventory | 96.0 | 37.5 | 36.0 | 48.0 | 8.7 | 27.0 | N/A – No sales for period | 8.1 |
As you can see, several areas have changed quite dramatically over the past few years. If you are thinking of buying, there is less to choose from and if you are selling, there is less competition. Talk to a First Weber agent about your particular community to see specific statistics about the months of inventory in your area. Homes still need to be priced correctly in order to sell.
Thank you for reading the First Weber Wisconsin real estate and Wisconsin living blog for information of months of inventory for sale. To see real estate for sale in Wisconsin, please see firstweber.com. To keep track of what’s happening in the Wisconsin real estate market, get to know one of our agents or sign up for a free My First Weber account.