September home sales in the four-county area surrounding Milwaukee
dropped 1.1 percent from last year — the third time in 2017 that
particularly low in Waukesha and Ozaukee counties, where affordable
homes were likely in short supply after a busy summer. Washington
and Milwaukee counties are generally more affordable — priced below
$350,000 — and both showed an increase in September sales over last
year, according to The Greater Milwaukee Association of REALTORS.
third quarter, Milwaukee County sales rose 1.1 percent, Waukesha
County fell about 1 percent, Ozaukee County increased 1.9 percent
and Washington County experienced the biggest sales boost with
nearly 6 percent more sales than third quarter last year.
The number of
homes listed in the four-county area was down in September by about
3 percent, but up by 2.1 percent for the third quarter compared to
2016. The fewest listings over last year are in Waukesha County,
down by 3 percent. However, listings were up slightly for the
quarter in the four-county area. Sellers would need to list 4,439
homes in the fourth quarter to catch up to last year, according to
regional real estate data.
prices of homes in the third quarter hold true to the law of supply
and demand; all four counties in the area continued the five-year
run of higher values. Waukesha County homes sold for 7.2 percent
higher prices on average than third quarter last year. Washington
County sale prices increased by 3.6 percent.
“hottest markets” with high sales, increased sales price and fewer
days on the market were in Bayside, Brookfield, Cudahy, Delafield