ranch home in the 900 block of School Drive is for sale at a
new price of $269,000 Friday.
September was a disappointing month for home sales in the
four-county metro Milwaukee region with all areas other than
Waukesha County seeing a decline in sales.
sales dipped 6 percent in September 2018 compared to the same
month of 2017, with Washington County down 20.2 percent, followed
by Milwaukee County at 9.2 percent and Ozaukee County sliding by
5.3 percent. Waukesha County was the only area with an increase in
home sales at 7.2 percent in September.
quarter of 2018 was also down a small amount compared to 2017.
A total of
16,425 homes have been sold through the third quarter of this
year, which is 0.2 percent less than the total this time in 2017.
metropolitan area has enjoyed a strong sales market since the
beginning of 2015. The influx of first-time buyers - accounting
for roughly 40 percent of the market - historically low interest
rates, and a strong regional job market, all provide fuel for a
hot market,” wrote Mike Ruzicka, president of the Greater
Milwaukee Association of Realtors. “While the building blocks of
the local economy and housing market are solid, there are some
anecdotal reports of a ‘cooling off’ in the market.
Homes in good school districts, in ‘move-in’ condition,
and priced under $300,000, are getting offers, but not as
fervently as earlier in the year.”
The number of
communities described as being a “hot market” have also
declined in the third quarter, Ruzicka reported.
there were 21 hot markets through the third quarter, this year
there were only 13. Most of the decline was due to a decrease in
unit sales, possibly because of a lack of supply in the
sub-$300,000 market,” Ruzicka wrote.
County was the outlier for third quarter sales and had an increase
of 1.6 percent.
had the greatest decease during that period at 5.6 percent,
followed by Washington County at 4.8 percent and Waukesha County
at 1.4 percent.