Metro Milwaukee home sales in 2012 came in at over 16,000 units sold, a number we have not reached since 2007. Year over year sales were 24% above 2011. We are optimistic about 2013.
Lack of available inventory is becoming an issue in some places. Normally in December, the Milwaukee market sees about 11,000 listings available for purchase. This year there are less than 10,000. Low inventory can put upward pressure on home prices, with buyers competing for homes. That effect on pricing has not been dramatic, as you can see below. Still, we feel we are headed into a positive market for 2013. Source of data: Metro MLS
Milwaukee County real estate (Dec. 2012 vs Dec. 2011)
Change in New Listings -11.8%
Change in sales: +3.9%, 503 sales vs 484
Change in Median sale price: + .1%
Ozaukee County real estate (Dec. 2012 vs Dec. 2011)
Change in New Listings -34.2%
Change in sales: +24.2, 77 sales vs 62
Change in Median sale price: -3.2%
Racine County real estate (Dec. 2012 vs Dec. 2011)
Change in New Listings -40.4%
Change in sales: -7.2, 116 sales vs 125
Change in Median sale price: +57.9%
Washington County real estate (Dec. 2012 vs Dec. 2011)
Change in New Listings 0%
Change in sales: +13.9, 82 sales vs 72
Change in Median sale price: -.6%
Waukesha County real estate (Dec. 2012 vs Dec. 2011)
Change in New Listings -16.3%
Change in sales: +8.6, 302 sales vs 278
Change in Median sale price: -1.2%
Contact First Weber if we can be of assistance to you in your Wisconsin homebuyingor homeselling needs. Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog. To search for what homes are selling for in Wisconsin, start with our Sold property search.