Metro Milwaukee home sales in May up 3.2%, listings up 5.4%. More listings under $300K needed!

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

 

 

 

Check out your competition

If you are thinking of selling your home, check out your competition at firstweber.com

 

Try out our Automatic Valuation Tool
You can get 3 instant home valuations just by entering your address at FirstWeber.com.  Then, contact your agent to talk it over for their opinion.

 

First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Central Wisconsin, Southwest WI, Western WI, parts of MN, Michigan’s U.P., Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com

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