Home sales dipped by 3.1 percent in the Metropolitan Milwaukee
market during January when compared with the same month in 2014.
the monthly report from the Greater Milwaukee Association of
Realtors, 820 homes sold in January - down from the 846 that
sold in the same month in 2014. Despite the dip, last monthís
total still appeared to be within the norm of past years.
last decade, the market has exceeded 820 unit sales in January
on only four occasions. In 2007 a high of 971 homes sold, but
totals have dipped as low as 558 in 2010 and 545 in 2009.
County led the way with over half the sales in the four-county
marketplace, but was 4.4 percent behind January of 2014. Brokers
identified two factors for the slower market: cold weather and
low inventory. Brokers reported that traffic did pick up the
last weekend of the month, after the Packers were eliminated
from the NFL playoffs.
was down across the metro Milwaukee market in January, but each
county tells a different story. While Milwaukee and Ozaukee
counties were down - 5.5 percent and 2.8 percent respectively -
Waukesha County was actually up by 3.3 percent, or 19 total
units. Washington County also jumped up by 13.8 percent, or 22
the GMAR, this increased activity in Waukesha and Washington
counties could indicate a strong spring market in the
$200,000-and-above price range. This is due to sellers who often
put their homes up for sale before the spring market.
seasonally adjusted inventory level for January was 6.1 months -
down a bit from Decemberís 6.3 month level - but it was actually
an increase over last year, when the seasonally adjusted level
was 6.0 months. The rate stood at 7.1 months in January 2013.