Milwaukee Region

Your current outlook on the housing market depends on how you interpret the signs. Federal Reserve Chairman Ben Bernanke’s “unusually uncertain” economic outlook underpins the need for job growth before housing demand recovers across the nation. But let’s focus on the local story before trying to fix the national malaise.

Pending Sales in the Milwaukee region decreased by 50.0 percent from last August to arrive at 686. New Listings decreased by 5.3 percent since last August and the overall inventory of 12,010 increased by 0.2 percent.

Median Sales Price increased by 7.0 percent compared to last August, registering in at $190,000. Average Days on Market, at 107, increased by 10.9 percent versus last year. Months Supply of Inventory decreased by 6.0 percent to weigh in at 11.0 months.

In the coming months, keep an eye on Active Listings and Months Supply. Slowed sales may increase inventory, depending on listing activity. If listings go down, balance may be found. Make sure your listings show well and remain competitive and aggressively priced right out of the gate.

You can follow this link: http://www.metromls.com/support/Market_Updates/index.html or visit www.mlswis.com and select MLS Statistics under the MLS Site Navigation menu. You will find other reports and statistics which may be of use to you in your business.

As always, your comments and questions are welcome!

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