Market Update: Milwaukee Real Estate Market Showing Excellent Signs of Recovery

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One of the most frequently asked questions I receive is about the state of our current real estate market. That’s why I am reporting our newest real estate market update today on the blog. The news is good! In fact, we are seeing improvements in almost every area of real estate and it indicates a strong future ahead for us.

Sales Up More Than a Third Over Previous Year

Looking at the previous year’s numbers, the number of homes sold in our greater metro area this May has risen a very significant 35% over the same time last year! This indicates stronger consumer confidence and of course it points to buyers realizing that the opportunity to lock in current low interest rates is a good one.

Sellers Enjoying Less Competition

With fewer homes on the market, for the first time in a long time we are seeing inventory levels dropping. What this means to sellers is decreased competition that leads to multiple offers in some situations and even bidding wars for some highly desired properties. Last year we reported over 11,000 active listings on the market at this time. This year the number of listings on the market is about 9,500.

Average Days On Market Hovers Regionally

Though it is still taking some time for homes to sell, the number of days on average for the Mike Roth Team is lower than the regional average of 124 days. We are currently reporting about 68 days to sell a property, nearly two months faster than most other agents. Furthermore, our sellers are achieving over 95% of their asking price.
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In addition to all these fantastic improvements going on in our market we are still seeing phenomenally low interest rates with rates as low as 4% on fixed rate mortgages. To find out how we stand out in the selling market and what our secrets are to getting your home sold faster, better and more efficiently – contact us today!