WAUKESHA – Sales of
homes in the four-county metropolitan Milwaukee real estate
market increased 3.5 percent compared with the same period in
2012, according to data released by the Greater Milwaukee
Realtors of Association.
There were a
total of 1,434 homes sold in October, compared with 1,386 for
the same month a year ago.
Milwaukee rose 5.1 percent on 784 unit sales
compared with 746 a year ago. Waukesha County rose 3 percent on
409 unit sales compared with 397 a year ago. Washington County
and Ozaukee County had small declines of 0.7 percent and 1.1
"The 3.5 percent increase in regional sales
may be a sign that the marketplace is settling into a more
gradual sales pace," a GMAR release said. "Rather than seeing
large, double-digit increases –
fueled by discounts and low prices –
steady sales increases would point to a market with competitive
pricing and neither buyers nor sellers dominating a
Cumulative sales through October totaled
15,351, putting the market on track to end the year with just
under 18,000 unit sales, the GMAR said.
Homes placed on the market increased for the
seventh consecutive month, going up 8.6 percent
– the first time the market has seen
a sustained period of increased listings since before the
"The 8.6 percent increase in listings is a
sign of a healthy real estate market, as sellers trust they will
receive a competitive price for their house, but the number of
current listings without an active offer indicates the market
has room for more," the GMAR said.
Despite the increase in listing activity, the
market’s inventory level was at 7.5 months, down slightly from
September’s 7.6 level. A year ago, the inventory level was
at 11.4 months.