Today in Real Estate is a page dedicated to giving the public updates on current Real Estate issues and market conditions. These reports are generated from the Metro MLS, who covers all of south eastern Wisconsin. For some reason they seem to concentrate on Milwaukee in their reports. Which is normally the largest market in Wisconsin, but lately has not represented the what is happening today in Real Estate in other parts of Wisconsin. I guess when you get stuck in a habit, it is hard to get out of it. I wish they had more news about what is happening today in Real Estate in other parts of the state like Sheboygan, Plymouth, Fond du Lac, Green Bay, and West Bend. But we have to take what we are given with a grain of salt. I will make mention of what I see in local markets, and of course, when it comes time for you to buy or sell any Real Estate, I will generate a personal report for you in your local area. That is the only way to do business.

Thanks to the Metro MLS for their reports. I am paying for these, so I may as well share them. I will also post reports from the WRA, Wisconsin Realors© Association, and other local offices when they are available.

If you have any questions, feel free to give me a call, or send me a message. If you want to find out what your house and property is worth in the market today, you can call, or send a message on my form page.

 

 

MARKET REPORTS: MAY 2018

Just like last year at this time, prospective home buyers should expect a
competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.
New Listings in the Milwaukee region decreased 5.1 percent to 2,678. Pending Sales were down 60.4 percent to 893. Inventory levels rose 4.2 percent to 4,960 units. 

Prices continued to gain traction. The Median Sales Price increased 7.6 percent to $215,000. Days on Market was down 20.8 percent to 38 days. Buyers felt empowered as Months Supply of Inventory was up 17.2 percent to 3.4 months.

Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago.
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.

MARKET REPORTS: APRIL 2018

Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months.
New Listings in the Milwaukee region decreased 9.5 percent to 2,269. Pending Sales were down 59.4 percent to 834. Inventory levels fell 0.8 percent to 4,521 units. 

Prices were fairly stable. The Median Sales Price increased 1.0 percent to $210,000. Days on Market was down 17.5 percent to 47 days. Buyers felt empowered as Months Supply of Inventory was up 7.1 percent to 3.0 months.

This winter and spring exhibited unseasonal weather patterns in much of the country. As the seasons change to something more palatable, wages and consumer spending are both up, on average, which should translate positively for the housing market. Being quick with an offer is still the rule of the day as the number of days a home stays on the market drops lower. If that wasn’t enough for buyers to mull over with each potential offer, being aware of pending mortgage rate increases is once again in fashion.
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.
Please contact your respective MLS with any questions. You may also follow our updates at  http://twitter.com/metromls.  Metro MLS members can call the Help Desk at 414-778-5450 or email  support@metromls.com
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.