METRO MLS (Milwaukee, WI Area)
We are in the thick of an exciting period of home buying and selling, often with
quick multiple offers that are near, at or even above asking price, depending on
the factors of the home and submarket in question. It was widely predicted that
we would see healthy sales activity during the second quarter of 2016, and the
market has not disappointed.
New Listings in the Milwaukee region decreased 7.7 percent to 2,591. Pending
Sales were down 33.4 percent to 1,293. Inventory levels fell 10.4 percent to
Prices continued to gain traction. The Median Sales Price increased 1.0 percent
to $195,000. Days on Market was down 7.0 percent to 66 days. Sellers were
encouraged as Months Supply of Inventory was down 11.3 percent to 4.7
Although inventory is still being stretched thin in many areas, low mortgage
rates coupled with higher wages have built a relatively sturdy housing
marketplace. How long that can continue without fresh supply remains an
important question, but conditions are seemingly good enough for serious
buyers. With the current slow state of new construction for non-rental
households, the road ahead could be tricky if demand remains high.
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.
Please contact your respective MLS with any questions. You may also follow our updates at http://twitter.com/metromls.