Home sales up from same time last year

By Will Skalecki - News Graphic Staff

August 1, 2017

OZAUKEE COUNTY The Greater Milwaukee Association of Realtors released its second quarter report, which surveys the housing market performance in Milwaukee, Ozaukee, Washington and Waukesha counties.

The number of sales in the month of June in Ozaukee County increased by 6.1 percent compared to the same time last year, the second-best showing in the four-county area, according to the report. Increases also occurred in the other three counties, with Washington County recording a staggering 23.8 percent jump.

Waukesha County reported a 2.8-percent increase and Milwaukee County a 0.4-percent rise.

Inventory still remains tight, with a low number of properties relative to buyer demand, according to the GMAR report. Houses under the $350,000 mark are particularly scarce.

Ozaukee County saw a decrease in the number of listings between June 2016 and June 2017. However, its overall number of listings in the second quarters of 2016 and 2017 saw an increase.

A GMAR survey conducted in May revealed that many sellers are reluctant to list their homes due to potential policy changes under the Trump administration, including mortgage interest deduction, taxes and health care.

While the four-county market surpassed its peak 2006 average sale price of $259,473, Ozaukee County still has yet to reach its peak of $318,360. The second-quarter sales price average was marked at $316,843, an increase from the $307,006 measured for the second quarter of 2016, data showed.