Ozaukee County home sales drop

News Graphic Staff

April 22, 2014

OZAUKEE COUNTY - First quarter home sales in Ozaukee declined from last year, but were better than the four-county metro area as a whole.

In Ozaukee County, home sales for the first three months of 2014 declined 7.7 percent - from 196 last year to 181 this year, according to the Greater Milwaukee Association of Realtors.

In the four-county area of Milwaukee, Waukesha, Washington and Ozaukee counties, home sales declined by 10.2 percent in the same period. There were 2,921 sales during the first quarter of this year, compared to 3,254 at the outset of 2013.

“A decrease in sales is not unusual in the winter months,” a news release said. “Buyers have decided to search online before going out.”

Despite a slow market in the first quarter, area brokers expect the market to be on par with - and possibly beat - the 18,203 unit sales of 2013 as the economy continues to improve and expand, the news release said.

Listings placed on the market increased by 2.7 percent for the quarter, both in Ozaukee County and in the entire four-county area. There were 377 listings in Ozaukee County, compared to 367 during the same period a year ago. For the entire four-county area, there were 6,506 listings, compared to 6,335.

“The inventory level was 6.7 months for March, a sign of a very healthy spring market. Inventory in the six-month ballpark is the sweet spot for listings because it provides an ample array of choices for buyers without applying too much price pressure up or down, the news release said.

“Except for the weather, market conditions were good in the first quarter,” the news release said. “Interest rates, home prices and active buyers are situated to fuel a robust spring and summer market.”

The Greater Milwaukee Association of Realtors is a 4,000-member-strong professional organization dedicated to providing information, services and products.