Ozaukee September home sales dropped 4.2 percent

By Laurie Arendt - News Graphic Staff

Nov. 7, 2017

OZAUKEE COUNTY — According to data provided by the Greater Milwaukee Association of Realtors, home sales in the metropolitan Milwaukee Area decreased an average of 1.1 percent in September, marking only the third time in 2017 that sales fell.

Out of the last 22 months, dating back to January 2015, only seven months did not post an increase in housing sales for the metropolitan Milwaukee area.

But sales were decidedly mixed in the three outlying metropolitan counties, with Ozaukee County’s sales dropping 4.2 percent and Waukesha County decreasing 11.9 percent. Yet, Washington County sales were up 20.4 percent from September 2016.

Graphic courtesy of Greater Milwaukee Association of Realtors

Washington, along with Milwaukee County, represent the counties that generally offer the most affordable housing stock. According to a GMAR press release, Ozaukee and Waukesha counties, generally exhaust their affordable properties during the summer months. The GMAR notes that in the current Metropolitan Milwaukee market, a property is considered affordable if it is priced below $350,000.

Comparing third quarter numbers, Ozaukee County posted a 1.9-percent increase in sales and a 7.3-percent increase in housing stock when compared to 2016. Overall, the GMAR notes that the area is in the midst of a three-year listing drought. The last time the area had consecutive months of new listings was from February through March 2015.

The average sale price for a home in Ozaukee County has increased $10,822 from 2016 to 2017. This continues a five-year run of increasing values for homeowners in the county, as well as in the metropolitan Milwaukee area. The average time a home is on the market in the county has also decreased from 84 days to 59 days, a decrease that is being felt countywide.

While the number of home sales for Ozaukee County, as well as sales for several surrounding counties, were down for September 2017 over September 2016, statistics show that the selling value of homes is on the rise. Ozaukee, Washington, Waukesha and Milwaukee counties all show increases in the average sale prices of homes for the third quarter this year over the same time period last year. The number of sales for the third quarter is up also, in spite of September being down.