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

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.

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