Rss Feed
Facebook button
Linkedin button
Digg button
Stumbleupon button

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

23 February 2012 Milwaukee Real Estate Market Update

Hey everyone, Troy Chowanec, RE/MAX Realty 100.  Today I am coming to from Historical Area at Lions Legend Park in Franklin Wisconsin with your weekly market update.

I want to talk today basically again about what is happening in the market with respect to showings and listings.  We continue to see a tightening of listings that we are taking as well as an increase in showing requests.  In 2010 (week ending 2/20/11) we had 992 listings represented by RE/MAX Realty 100.  This year we have 837, that’s 155 fewer listings for the same period over last year.  The quality of the listings overall seems to be down.  Now I don’t want my Sellers to be offended by that because I think that my properties are really good properties.  But generally speaking a lot of the foreclosures and short sales out there are of poor quality and have a lot of condition issues. Showing requests last year, Last year we had 483 showing requests at this time (week ending 2/20/11).  This year showing requests are up to 734, for the same period, that’s 251 more showings on 155 fewer listings.  So, as you can see, showings continue to increase while listings and inventory, the supply continues to tighten.  That’s really exciting.

The data I’m reading right now is suggesting that we are going to continue to see a tightening of inventory as we go through this year.  And then next year, as the inventory starts to continue to whittle down we’re going to start to see prices start to increase.  They are not projecting price increases until sometime this next year in 2013.  This year we are supposed to see a continuing decrease in the number of listings that are out there and it’s going to continue to be a challenge as we continue this year because we may see some continued pricing pressure as we go through the spring market.  Hang in there, I hope you had a showing this last week.  There’s a good chance that you did and if not give me a call and lets see what we can do to make your property more attractively priced so that Buyers will see it as a bargain and will want to come and get a showing.  If you have any questions feel free to call me or shoot me an email.  As always, I’ll see you next week.  Have a great day, Bye!

Leave a Reply

Free Blog Theme and Blog Templates