Washington County home sales bring region’s average down
Milwaukee-WOW county home sales slid 1 percent in February

By Freeman Staff

March 13, 2019

 A four-bedroom bungalow for sale Tuesday in the 300 block of
East College Avenue in Waukesha. It is listed for $225,000.
Katherine Michalets/Conley Media

WAUKESHA — Three of the four metropolitan Milwaukee counties saw their home sales go up in February compared to a year ago, except for Washington County, which had sales tumble 31.6 percent.

According to data released Tuesday by the Greater Milwaukee Association of Realtors, Milwaukee County had an increase of 1.8 percent in February compared to February 2018, while Waukesha County increased 5.6 percent and Ozaukee County went up 1.9 percent. When combining the numbers, home sales declined 1 percent in the four-county metro region.

The report said area real estate brokers attributed the lower sales mostly to the bad wintry weather.

New home listings continued to remain low in February, which the report says could mean that the market will remain tight going forward in 2019. “Buyers’ inability to increase their offer has a significant effect on price increases; particularly properties traditionally considered ‘first-time’ buyer properties, which in the current market are generally those under $300,000. With 40 percent of the market consisting of first-time buyers, they have a cap on what they can add to their offer before losing a property,” reads the report prepared by Mike Ruzicka, GMAR president.

Listings declined in all four Milwaukee-WOW counties in February compared to last year.

Ozaukee County took the biggest hit at 22.7 percent, followed by Milwaukee County at 16.7 percent, then Washington County at 13.2 percent and ending with Waukesha County at 7.1 percent.