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Franklin Real Estate and Homes For Sale in Wisconsin - Troy Chowanec, RE/MAX Realty 100, RealtorĀ®

April 2013 Franklin WI Real Estate Market Update

Hi, Troy Chowanec with RE/MAX Realty 100. We’re in the middle of April here and we’re just coming off some really crazy weather. It was snowing yesterday. Today is a beautiful day. Right now I am over in Whispering Woods Subdivision. It’s a new Mark Carstensen Subdivison. It’s just south of Drexel Avenue off of 68th Street. I wanted to bring you some current market updates for the City of Franklin specifically.

Currently there’s 109 single family homes for sale in the area. That’s eight more than we had in February that’s two months ago. So that’s not a lot of increased inventory from my perspective. 31 of the properties though currently have accepted offers. That’s about 1/3 and that’s more than double what we had 2 months ago when I last reported. 18 homes are also in the pending state so those are also off the market and are not really available for viewing.

Right now the high priced home on the market is 8347 Spindletop. The asking price is $899,000 and it has been on and off the market since July 2008. They actually started back in 2008 at $1,600,000. So from that perspective the house is probably priced at a really good deal. I feel really bad for those sellers. The house is assessed right now at $891,400 so they are priced a little more than the assessed value but that is pretty normal for this market.

The low priced home right now for sale in Franklin is over at 8801 S. 83rd Street. That house is priced at $80,000. Now it does need about $20,000 worth of foundation work. I have been in that home and so who ever buys that is going to have to stick some money into it. But I would think they are still going to get a great deal because the house is assessed at $187,000. So even with the repairs they should come out on the positive side there.

The median priced home right now is over at 9151 S. 42nd Street. The asking price is $259,800 its been on the market only 10 days and it’s got an accepted offer on it. The last time this home sold was only in 2008 for $253,000 and it’s currently assessed at $224,600. It’s really encouraging when you see some homes on the market for such a short period of time with an asking price of more than assessed value and getting offers on them.

The average asking price overall in Franklin right now is $295,545. The average square footage of the home on the market right now is 2124 square feet and they have been on the market an average of 179 days.

Now in the month of March we had 18 homes that sold and the average sale price was $262,466 and the average sold price was $256,419. So that is 98% of the last asking price that was received for the 18 homes that sold in March. The average square footage was 2010 square feet and the average days on the market was 133. So a little less on the square footage side compared with what’s currently in our inventory right now and on the market significantly less than what is in our inventory right now.

The high price sale for the month of March was at 8643 S. Parkland Court. It was on the market 11 days and sold for $415,000. It has an assessed value of $454,800 so this home sold for considerably less than its assessed value.

The low priced home sale was at 7166 S. 49th Street. It was on the market 177 days and sold for $54,000 more than $100,000 less than its assessed value and it last sold for $135,000 back in 2007.

The median priced home sale was a home over at 7010 S. 122nd Street. It was on the market 159 days and it sold for $235,000. The last time this home sold was just late this last year for $85,200. This was a flip property. Someone, an investor came in bought the property, made a whole bunch of repairs and made it really nice and then when ahead and re-sold it. I was in this property and they did a really great job on the home.

If you have specific questions about selling your home in Franklin or if you would like to buy a home feel free to give me a call. Again my name is Troy Chowanec with RE/MAX Realty 100 I’d love to hear from you. Send me an email or give me a phone call I’ll answer my phone and be happy to talk to you.

April 2013 Milwaukee WI Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100 coming to you with an update for the real estate market in the greater Milwaukee area. I just want to let you know what’s going on in the marketplace right now. We’re coming into a really swift market things are not sticking on the market very long at all. Right now my buyers are competing often times with other buyers and having to put in multiple offers to get a property.

Right now Centralized Showing Service, that’s the showing desk that we utilize for our showings told us that last week we had 724 active listings and 885 showing requests. If you look at 2012 we had 904 active listings and 874 showing requests. That’s 180 fewer listings! That’s a 20% drop over last year guys! However, the activity on those showings is just as high and higher than we had last year this time. So that just shows you where the market is going right now. We have this lack of inventory and we have this tremendous amount of showing activity and buyer interest out in the marketplace right now. My broker is saying they have never seen a market like this where we’ve gone from such a buyers market to arguably maybe a sellers market right now or heading into a sellers market.

MLS (Multiple Listing Service) reports that listings are also down regionally by 20% over last year. The median home price did increase 9.3% to $165,000 and the average days on the market dropped 10.1% to 106 days. Again that’s a 5 county metro area regional number. There is a 6.1 month supply of inventory and that really points to the market being a balanced market right now.

The GMAR (Greater Milwaukee Association of Realtors) reports that Milwaukee County saw increases in price in 12 of 19 communities. 19 of 27 communities in Waukesha County saw a price increase in the first quarter (of 2013). Home sales were up 11.3% in the month of March and they were up 14.1% for the the first quarter overall. So the market is really strong right now. If you are looking to sell a home this may be a great time to actually put it on the market and get a good price and make your exit. If you are looking to buy a home interest rates are really low right now so that makes it affordable to buy a home…and that would be a good reason right now to look at making a purchase.

If you’ve got a question or comment or if you would like to buy or sell a home and you are looking for a great agent to work with feel free to give me a call. Again my name is Troy Chowanec with RE/MAX Realty 100. Today I am over in Franklin at the Whispering Woods Subdivision, a new Mark Carstensen development and it’s located south of Drexel off of 68th Street. I’d love to hear from you and I’ll look forward to speaking with you again next month with my next market update

February 2013 Franklin WI Real Estate Market Update

Hi Troy Chowanec with RE/MAX Realty 100 Coming to you with your February 2013 Franklin Market Update. I’m over at the entrance to the Mission Ridge Subdivision off of 51st Street.

Currently there’s 101 Single Family Homes for sale in Franklin Wisconsin. That’s about 5 fewer than there were last month at this time. Currently there are 15 of those properties with accepted offers on them. The average asking price for homes in Franklin right now is actually up quite a bit over last month to $309,861 almost $20,000 more than it was last month. The average square footage is 2138 square feet. The average days on the market for these homes is about 221 days right now.

The high priced home right now, we have a new entry into the market place that’s at 8490 Old Loomis Road and that’s coming in at $1,950,000. The low price home right now that’s not under contract listed in the MLS is for a property at 3412 W. Central avenue and it’s currently listed for $54,900. The median priced home right now is a property over at 12200 W. Scherrei Drive that’s over on the western side of Franklin and they are currently asking $259,000.

In the month of January there were 13 Single Family Homes that Sold. The average last asking price was $251,693 and the average sold and closed price was $243,308. That’s an average of 96% of last asking price that was received on these homes. Of more important note would be the ratio of the sold and closed price to the assessed value. Currently on average the homes in January got 88% of their assessed value on the final sale. The average home that sold in January was 2069 square feet and it was on the market an average of 121 days. That’s significantly less than the homes that are currently on the market.

The low priced home that sold in January 2013 goes to 8141 S. 76th Street. That’s just to the south of Rawson Avenue. It sold for $122,500. The high priced sale goes to a property at 4485 Jenna Drive and that sold for $420,000. The median price, and this would be just as many higher or lower priced homes than this, but this is the median price. It was a property over at 12124 Scherrei Drive and that sold for $210,000.

If you have a specific question about marketing and selling your home in Franklin and you are looking for an expert that knows the statistics. Feel free to give me a call. Again my Name is Troy Chowanec with RE/MAX Realty 100, I’d love to have the opportunity to talk with you.

February 2013 Milwaukee WI Real Estate Market Update

Hi, Troy Chowanec with RE/MAX Realty 100 I’m coming to you with your February 2013 market update for the city of Milwaukee and surrounding area. Existing home sales were up 18.3% in the 4 county area for January 2013 compared to January 2012. That’s 19 consecutive months of double digit sales increases when compared year over year. The Median home price was up 3.4% to $123,000.

In Milwaukee County the median price for 2012 was $100,000 and that was down over 2011 when the median price was $102,000 and significantly lower than the median price of $161,900 back in 2007. In Waukesha County things are looking a lot better. The median price for homes sold in 2012 in Waukesha County was $224,900. That’s significantly higher than the $219,000 median price we saw in 2011. If you go back to 2007 the median price in Waukesha County was $250,000. So Waukesha County has rebounded quite well at least as far as the 2012 statistics would suggest.

The number of listings that are selling is the big topic right now because inventories are so low and the number of homes that sold in 2012 rivals that of what we saw in 2007. So lots of activity happening right now out in the marketplace. RE/MAX Realty 100 is currently representing 665 listings and there were 625 showing requests last week. If you compare that to the 2012 statistics we had 837 listings and 734 showing requests. That’s 172 fewer listings and the percentage change of a showing request actually increased this year over last year.

If you have a question about the sale of your home please feel free to give me a call.and if you are looking to buy a home I’d be glad to help. Again my name is Troy Chowanec with RE/MAX Realty 100 and today I’m out in Franklin Wisconsin at Mission Ridge Subdivision. I look forward to hearing from you, Have a great day!

19 January 2013 Franklin WI Real Estate Market Update

Hi, Troy Chowanec with RE/MAX Realty 100. Today is Saturday the 19th of January. We are just in the middle of our mid winter thaw here and I wanted to bring you a market update for the Franklin Wisconsin marketplace specifically. Currently there’s 96 single family homes for sale in the Franklin marketplace. That’s 11 less than we had at the end of last month and 46 less then we had in September when I reported to you.

The average asking price right now for homes in Franklin Wisconsin is $290,586. The average square footage is 2108 square feet. These homes have been on the market an average of 223 days. Currently the lowest priced home not under contract in Franklin is a property at 11343 W. Mayers Drive and that’s currently listed at $68,300. The highest priced property is still the one over at 9301 W. Rawson Avenue but they’ve had a price reduction. They were at $999,000 and now they’re at $899,000. The median priced home right now is over at 7448 Karth Court and that’s priced at $252,000.

In the Month of December there were 19 single family homes sold. The average last asking price of these homes was $277,953 and the average sold price was $264,553 That means that homes were getting on average 97% of last asking price for those homes that sold in December. The average home was 2189 square feet and was on the market 166 days on average. The low priced home that sold in December goes to a property at 7341 S. 37th Street. It sold for $56,900. The high priced home that Sold in December was at 7070 S. Woelfel Road in Franklin and it sold for $512,500. The median priced home in December was sold for $242,900 and that was located at 8889 Lake Pointe Drive in Franklin right to the west of where I’m at.

Today I am actually at Imperial Heights and this is an Alesci Homes subdivision. If you have questions about selling or listing your home in Franklin or if you are looking to buy a home in Franklin feel free to reach out to me and I’ll see what I can do to help you out. Again, my name is Troy Chowanec with RE/MAX Realty 100. Have a great weekend.

19 January 2013 Milwaukee WI Real Estate Market Update

Hi, Troy Chowanec with RE/MAX Realty 100. Today is Saturday January 19, 2013. Today I am over in Franklin at the Imperial Heights Subdivision entrance monument. I just want to give you a quick update on what’s happening in the greater Milwaukee area.

The GMAR is reporting that home sales were up in 2012 by 24.6% over 2011. In the 4th quarter we saw a 23.1% increase in home sales. Low inventory continues to be the dominating topic of discussion right now. In the 4 county region we ended up the year with 9798 listings on the market and that is relatively low. We have about an 8.7 month supply of inventory right now. Typically going into the end of the year we have between 11,000-12,000 homes available in the marketplace.

So you would think with a lower amount of inventory we would start to see an increase in pricing pressure. We haven’t really seen that even though interest rates have been low and continue to be low and even though inventories are tight property values haven’t gone up any. We really were planning on seeing a little bit of an increase going into the end of last year. We are still waiting to see how that’s going to come out into 2013.

Currently RE/MAX Realty 100 is representing 662 active listings. It’s far less than what we represented back in January 2012 we had 821 listings. However, showings continue to be strong we actually had more showings this last week than we did this same week last year. That was 563 showings vs.559. We actually have 159 fewer listings and more showings. So showing activity continues to be strong.

If you have questions about selling your home or if your are looking to buy a home and are looking for some guidance and someone that can help you out give me a call again my name is Troy Chowanec with RE/MAX Realty 100. Have a great day.

14 December 2012 Franklin WI Real Estate Market Update

Hi, Troy Chowanec from RE/MAX Realty 100. Today is Friday December 14th 2012 and I am coming to you from the Victory Creek Subdivision in Franklin Wisconsin. I wanted to give you a quick market update on what is happening in the Franklin marketplace in specific.

In the month of November 2012 there were 23 properties that sold. (single family homes) The average asking price was $267,128 and the average sold price was $257,672. That represents a 96% listing price to sold and closed price ratio. The average square footage of these homes was 1984 and they were on the market approximately 213 days on average. The low sold price for the month of November was $112,500 and that goes to a property at 11447 W. Swiss Street, that’s over in the St. Martins area. The high sold price was $400,000 and that was for a property over at 9783 W. Prairie Grass Way, that’s over off hwy 100 in the Prairie Grass Subdivision. The median price home that sold in November 2012 was $239,000 and that was for a property that sold over at 4477 W. Thorncrest Drive.

Currently there’s 107 active listings for sale in the Franklin market place. Last month when I reported we had 116 active listings and in September there was 142. So a great big decrease in the number of listings right now which is typical for this time of year as we wrap things up. A number of listings are expiring, Sellers are maybe waiting to put their house on the market next year. It’s typical this time of year to see a dip in the number of listings. The average asking price for the homes on the market right now in Franklin is $294,229 and the average square footage of those homes is 2143 Square Feet. The days on market right now is on average 198 days. The low price still goes to a property over at 7846 S. 51st Street. $54,900 is the asking price. The high price still goes to a property listed over at 9301 W. Rawson Avenue, that price is $999,000. The median price right now goes to a property that’s listed for $260,000 and that’s for a property at 8771 S. 76th Street over there in Franklin south of Drexel Ave.

If you have questions specifically about your home in Franklin about how I might be able to help you sell it or if you want to buy a home in Franklin feel free to reach out to me either by giving me a call or sending me an email. Again, my name is Troy Chowanec with RE/MAX Realty 100. Have a Merry Christmas and Happy Holidays!

14 December 2012 Milwaukee WI Real Estate Market Update

Hello, Troy Chowanec from RE/MAX Realty 100. Today I am coming to you from the Victory Creek Subdivision in Franklin Wisconsin. Today is Friday December 14th, 2012. I want to start with the GMAR (Greater Milwaukee Association of Realtors) report for the home sales for November 2012. They are telling us that we saw an increase of home sales in the 4 county metro region of 24.2%. There were 2102 sales vs. 968 same period last year. For the year over-all sales are up 25.7%. We’ve had 14,937 units sold in the 4 county region vs 11,881 for this same period 2011.

In Milwaukee County 52% of all homes sold in the region were those homes that sold in Milwaukee County. So Milwaukee County controls the lions share of the movement in real estate. 49.3% of the sales in Milwaukee County though were under $100,000. So a lot of foreclosures and hard hit neighborhoods that saw a lot of action by investor purchases. 37.1% of the over-all sales in the 4 county region were in the $100,000-$200,000 price range.

Waukesha County accounted for 30% of all the sales in the 4 county region. Of those sales 35.3% were in the $100,000-$200,000 price range and 29.4% were in the $200,000-$300,000 price range. Current inventory levels for the region are at a 9 month supply so that’s a little elevated over last month but generally speaking supply levels are greatly reduced compared to last year.

Currently RE/MAX Realty 100 is representing 798 active listings and we had 483 showing requests last week. Last year we represented in the same period 935 active listings with 454 showing requests. So we continue to see this trend the whole year now where showings are actually increased and the listings have decreased. Interest rates continue to be aggressive and for those that qualify this is a great thing and I think this is contributing to our sales.

If you have any questions about selling your home or buying a home in the area feel free to give me a call or send me an email. I would be happy to help you any way I can. Again, Troy Chowanec, RE/MAX Realty 100. Have a Merry Christmas!

20 November 2012 Franklin WI Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100. Today is Tuesday 20 November 2012. Today I am coming to you from the neighborhood of River Terrace Estates in Franklin Wisconsin. It’s off of 68th Street just to the North of Puetz Road. I wanted to give you a quick update on what is happening in the marketplace here in Franklin Specifically.
Currently there’s 116 active listings in the Franklin Wisconsin Marketplace. That’s for single family homes only. That doesn’t include condo’s or 2 family’s or other types of properties, just single family homes, there’s 116 currently available. In September there was 142 active properties that were available for sale. So there is a big decrease in listings right now in the Franklin marketplace.
The current average asking price of a property in Franklin is $287,963 and the average square footage is right around 2129 square feet. The average days on the market right now is about 195. The low price right now for actively listed properties is $54,900 and that goes to a property at 7846 S. 51st Street, that’s over by the high school. The high price right now is $999,000 and that’s for a property at 9301 W. Rawson Avenue. The median price home right now. The award goes to a property listed for $252,450 over at 3705 W. Drexel.
In the Month of October there were 16 (single family home) properties sold. The average asking price was $273,556 and the average sold price was $266,400 that’s a 98% last asking price to sold and closed price ratio. The average square footage of the homes that sold in October was 2131 square feet and the average days on market was about 125 days. The low sold price for the month of October goes to 5003 W. Minnesota Avenue at $101,000 and the High price for October the prize goes to a property that sold at 8981 S. 47th Street and that price was $390,000.
If you have a specific question about your home in Franklin or you are looking to buy a home in Franklin, feel free to give me a call or reach out to me. Again my name is Troy Chowanec, RE/ MAX Realty 100. Have a great Thanksgiving weekend. Bye!

20 November 2012 Milwaukee WI Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100. Today is Tuesday 20th November 2012. I’m coming to you from the entrance of the River Terrace Estates Subdivision in Franklin Wisconsin. I wanted to give you a quick market update on what’s happening in the greater Milwaukee Area.

Currently RE/MAX Realty 100 is representing 829 active listings and we had 458 showing requests last week on those listings. Compare that to 2011 we had over 1000 active listings and 431 showing requests. So we continue to see where inventory is tight compared to the previous year and showing requests are stronger compared to the previous year. That’s a good thing for sellers out there as inventory continues to tighten. Home Sales in the 5 county area were up 32.8% in the month of October verses of October 2011. That’s 16 consecutive months of sales growth month over month. Inventory continues to be an issue we currently have an 8.4 month supply so as inventory continues to tighten up buyers are going to have fewer and fewer properties to select from.

As of right now most of the properties are falling in the $100,000-$200,000 price range of those that sold. About a third of all sales were in that price range. In Milwaukee County though its not as good a picture. 50.8% of all sales in Milwaukee County in the month of October were under $100,000.

Interest rates continue to be very low and very good for those that are looking to get conventional financing right now. We expect that over the next year we’ll start to see them slowly creep up. Probably in the mid 4% range is what is they are projecting for the moment. Underwriting rules are set to change at the beginning of the year so it’s going to be harder for buyers out there to get a loan on the properties that they’re considering buying. So that may be a challenge as we move forward into 2013 as will the expiration of some of the tax credits that we are currently getting. With the expiration of some of those tax credits Buyers are going to have less of their paycheck to be able to spend on housing.

That’s kind of a quick look at what is going on right now in middle of November here just before Thanksgiving. If you have any questions or need help with selling your home or buying a home please feel free to reach out to me. Again my name is Troy Chowanec with RE/MAX Realty 100. I’d love to hear from you. Have a great weekend. Bye!

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