Real estate market was chilly in April
Metro Milwaukee area saw a decline of 4.7% in sales

Freeman Staff

May 11, 2019

WAUKESHA — The metro Milwaukee area saw home sales cool in April.

According to data released Friday by the Greater Milwaukee Association of Realtors, home sales declined 4.7% in April, compared to one year earlier, for Waukesha, Ozaukee, Washington and Milwaukee counties.

There were 1,757 homes sold in April 2019, versus 1,843 units in April 2018. For the fifth straight month sales declined in April; however, it was the fouth strongest April since the start of the century, according to the report.

Sales declined the most in Ozaukee County at 11.8%, which was only slightly worse than Washington County at 11%. Milwaukee County sales declined 5.6% while Waukesha County increased 1%.

“There is a healthy amount of demand for homes by those seeking them. More than 50% of sales occur within 30 days of a home being listed, and most of those are for homes under $300,000,” wrote Mike Ruzicka, president of GMAR. “Sales of properties under $300,000 in Milwaukee and Waukesha counties, the engines of the regional real estate market, were 85% and 50%, respectively, of all sales.”

In April home listings increased, which likely indicates more home sales in May and June. Overall, the four-county region saw listings increase 3.9%. All but Washington County had an increase in listings: Ozaukee County was up 9.4%, Waukesha County was up 7.8% and Milwaukee County increased 2.2%. Washington County only had a small decline of 0.8%.

“April’s 2,617 listings were the highest number of listings in any April since 2015 (3,085),” Ruzicka wrote.