WAUKESHA — Homes sold in metro
Milwaukee increased in November but only slightly at 0.6 percent,
according to data released Tuesday by the Greater Milwaukee
Association of Realtors.
Home sales declined by 5.7 percent in October, 6 percent in
September and 1.6 percent in August when compared to the same month
In November, there were 1,549 homes sold, 49 more than November 2017
for the four-county metropolitan Milwaukee area, which includes
Milwaukee, Ozaukee, Waukesha and Washington counties. Ozaukee County
saw the greatest increase in home sales last month at 6 percent with
106 units, compared to Waukesha County at 4.6 percent with 433 units
sold. Both Washington and Milwaukee counties had a decline in home
sales in November. Milwaukee County had 1.3 percent fewer homes sold
with a total of 858 units. Washington County sales declined by 3.2
percent with a total of 152 units sold last month, according to GMAR.
“The two counties that saw a decrease in sales, are also known for
having more affordable inventory,” reads the report by Mike Ruzicka,
president of GMAR. “The decrease could be attributable to the recent
increases in interest rates, which often push those on the margin
out of the market first.”
For the year, sales are down 56 units from 2017. There were 19,346
total sales in the first 11 months of the year compared to 19,402 in
2017, a 0.3 percent decrease, according to the report.
Listings increased 8.9 percent for the four-county region, with
Waukesha County leading the group with a 14.3 percent increase.
Ozaukee County went up 8.5 percent followed by Milwaukee County at
7.9 percent. Washington County saw no increase or decrease.
“The 4-county area only saw an increase in listings in three months
all year, July, October and November. There were 117 more listings
in November than in November 2017, the largest increase all year,”
reads the report from Ruzicka. “Total listings are down for the
year, however. Since the beginning of 2018, the 4county metropolitan
area had 24,953 homes listed, 4.2 percent behind 2017 (26,036).”