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

20 July 2012 Milwaukee Real Estate Market Update


Hi, Troy Chowanec, RE/MAX Realty 100. Today I’m coming to you from Franklin City Hall in Franklin Wisconsin. Today is Friday July 20th 2012. I’m coming to you with a new market update for the area. The Greater Milwaukee Association of Realtors last week came out with the statistics for June 2012 and for the (2nd) quarter. In the four county metro area home sales were up 25.8% in the month of June over last year and they were up 28.6% for the 2nd quarter overall. So that’s quite a dramatic increase over last year. That continues a 12 month double digit increase in home sales. So every month for the last year we’ve had a double digit increase in home sales to date. I think that’s largely attributed to the low interest rates that we are currently seeing out there on loans and the attractive prices on the homes that are out there as well.

In June we saw a 12.9% decline in the inventory listed in the metro area. So inventory continues to tighten and we are down to a 6.3 month supply of inventory at current time. We should start to see some pricing pressure as this inventory continues to decline with the increase in sales so that should bode well for some increase in price. We have seen that in a couple of counties but not in Milwaukee or Waukesha county as of yet. The breakdown for Milwaukee and Waukesha county are as follows: Milwaukee County for June of 2012 there was a 27.2% increase in sales over last year this time. There were 969 sales verses 762 last year. In Waukesha County we saw sales up 20.3% over last June. That’s 534 sales this year in June verses 444 last year in June.

The Centralized Showing Service which RE/MAX Realty 100 uses for showing requests shows that currently RE/MAX Realty 100 is representing 930 active listings verses 1168 this time last year. We had 664 showing requests this year verses 582 showing requests last year. So showings continue to be strong, inventory continues to tighten, this is all boding well for sellers that eventually we’ll see an increase in prices. We haven’t seen that yet but they are projected to start increasing in price sometime this year and into next year. If you have a question about listing and selling your home or about buying a home feel free to give me a call or shoot me an email I’d love to help you out. My name is Troy Chowanec with RE/MAX Realty 100. Have a great weekend.

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