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, RealtorĀ®

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

Leave a Reply

Free Blog Theme and Blog Templates