The real estate market remains very active in the Metro Milwaukee area. Sales are up over 3% compared with this time last year. We had a 5.4% increase in new listings – very good news for buyers! However, that does not solve the inventory shortage. Months of inventory are at 4.9 months compared with 5.9 months last year at this time. Anything under 6 months leans to a seller’s market.
Well-priced homes in the lower price ranges are getting snatched up quickly. You do, however, still need an agent. Getting a buyer is JUST the tip of the iceberg when it comes to selling a home.
Here’s an update by county of May’s real estate activity: Source GMAR
Milwaukee County home sales
- 1060 Milwaukee County home sales this year compared to last May ’s 1048, an increase of 1%.
- Median sales price up 3.4% to $155,000
- Days on market are now at 45 days, down 32% compared to last May ’s 66.
Waukesha County home sales
- 589 Waukesha County home sales this year compared to last May ’s 615, a decrease of 4%.
- Days on market is at 48 days, down 25% compared to last May ’s 64.
- Median sales price down 4% to $280,000
Ozaukee County home sales
- 140 Ozaukee County home sales this year compared to last May ’s 128, a decrease of 4%.
- Days on market are now at 57 days, down 26% compared to last May ’s 77.
- Median sale price steady at $280,000
Washington County home sales
- 212 Washington County home sales this year compared to last May ’s 202, an increase of 5%.
- Days on market are now at 46 days, down 32% compared to last May ’s 68.
- Median sales price up 10% to $212,750
Racine County home sales
- 241 Racine County home sales this year compared to last May ’s 237, an increase of 1.7%.
- Days on market are now at 67 days, down 19% compared to last May ’s 83.
- Median sales price down 10% to $144,900
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