2015, the four-county metro Milwaukee area of Waukesha,
Washington, Ozaukee and Milwaukee counties had 19,611
homes sold. In 2016, that figure increased to 21,007, for
a rise of 7.1 percent compared to 2015. Last year had 18.4
percent more homes sold than in 2014, when there were
17,749 unit sales, according to the GMAR.
wasn’t as strong a month and sales dipped 1 percent
compared to December 2015 for the metro area.
County had the greatest decline of sales in December at
8.8 percent, followed by Milwaukee County
with a downturn of 5.1 percent and Ozaukee County at
minus-2.4 percent. Waukesha County was the only area with
an increase in sales in December at 3.3 percent.
comparing total sales in 2016 to 2015, Milwaukee County
saw the most significant increase at 10.3 percent,
followed by Ozaukee County at 4.8 percent. Both Waukesha
and Washington counties had similar sales growth in 2016:
3.2 percent and 3.3 percent respectively.
last time the Milwaukee market was in the range of
21,000-plus sales, was in 2005, when there were 21,642
sales,” Mike Ruzicka, president of the GMAR, wrote with
the report. “A 7.1 percent jump in sales is truly
remarkable given the declining pool of available homes the
market has produced for several months.”
to the GMAR, December was the ninth month in 2016 with a
decrease in listings. The 858 listings
in December was the lowest December in the 21st century,
and the only one to come in below 1,000 units.
the average sale price in all four counties was up in 2016
with Waukesha County leading the way with the largest
2016, the average sale price in Waukesha County was
$303,503, an increase of 5 percent compared to 2015.
Waukesha County peaked at $310,688 in 2007, and is 2.4
percent from that point, according to the GMAR.
County increased 5 percent in 2016 for a average price of
$168,319 and Ozaukee County also increased 5 percent last
year for an average price of $310,036.
County only rose 1 percent to an average price of
$228,661, which is 1 percent below its 2007 peak price of
$231,052. The four-county market is 3.4 percent away from
its peak average sale price in 2007 of $261,280.