WAUKESHA COUNTY - Those
looking to sell a home in Waukesha County this summer are in luck.
Homes in the area are selling quicker and for higher prices than
they were a year ago, and that's not expected to change any time
The only difficulty is
finding another house in this market to move into.
According to a report from
the Greater Milwaukee Association of Realtors, Waukesha is leading
the charge out of the recession with its housing market bouncing
back with vigor. The average house is selling for $317,570 with only
54 days on the market, compared to $291,239 and 73 days in the
second quarter of 2016. Housing prices in Waukesha County are
increasing much quicker than Milwaukee, Ozaukee and Washington
But the number of listings
isn't rising to meet the demand. The number of homes for sale in
Waukesha County dropped from 4,426 last June to 4,203 this year,
according to the report.
Mike Ruzicka, president of
the GMAR, said good school districts are one of the biggest drivers
of housing demand. He pointed out several communities in Waukesha
County that are "hot" right now because homes are seeing the fewest
days on the market. The communities are Brookfield, Delafield, Elm
Grove, Menomonee Falls, Merton and Muskego.
Ruzicka said houses generally
sell between 30 to 60 days, sometimes upwards of 90 days. In 2012,
averages were around 90 to 100 days. But with averages at 54 days in
Waukesha County, it means the housing market is very tight.
Looking to the future,
Ruzicka said these trends will force changes in the community with
people demanding new construction in order to get the homes they
want. Housing prices will likely relax from their rapid increase due
to the influx of new construction, he said.