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

14 September 2012 Milwaukee WI Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100. Today I am coming to you from Franklin Wisconsin. Specifically I am in the Hidden Lakes Subdivision. This sign has just been re-located as they have re-done their entrance monument. So I thought I would take the opportunity to showcase the old sign here. I want to start out with some market conditions we are seeing right now.

Right now RE/MAX Realty 100 is representing 872 Active listings in the MLS. We had 592 showing requests last week. Compare that to 2011 we had 1096 Active listings and only 486 showing requests. That is a 20% decrease in the number of listings and a 20% increase in the number of showing requests. So showings are still strong compared to last year this time. I was looking at market data as early as March and April of this year and the number of listings were similar to what we are currently seeing in the 800 or so number of listings we are representing. So inventory has stayed pretty level through out the year. Right now I am hearing buyers complain that there’s not enough good inventory to pick from….so that’s something to think about.

August we have the data that MLS has provided us as far as what’s happened over the course of the last month. In the four county region sales were up 21% over august 2011. In Milwaukee County Sales were up 11.5% there were 833 units sold vs. 747 units sold last year for August 2011. In Waukesha County the sales data is quite drastically different they’re up 42.7% in August 2012 over August 2011 531 listings sold in Waukesha County in August vs. 372 in August 2011.

Inventory levels continue to be low we’re at a 7.8 month supply of inventory right now and that’s quite a bit lower than we’ve been experiencing previously. 2007-2011 we had upwards of 10 months of inventory. Sales would probably be stronger right now if there was a better supply of inventory and more inventory for buyers to choose from. However, its still a buyers market and I suspect it will remain a buyers market for the foreseeable future. Interest rates are still low and that’s helping fuel the spur in sales. But prices really haven’t increased and so as a result it’s still a buyers market. Again, Troy Chowanec, RE/MAX Realty 100. If you have questions or want to know how I can help you sell your home or help you buy a home feel free to give me a call or shoot me an email. Have a great weekend!

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