home for sale Monday on Laflin Street at the corner of
South Charles Street in Waukesha.
WAUKESHA — For the first time
this year, home sales in the metro Milwaukee area increased. The
Greater Milwaukee Association of Realtors reported Monday that sales
increased 0.7% in May, compared to May 2018.
There were 2,121 homes sold in May 2019, versus 2,136 units in May
Leading home sales in May was Waukesha County, which had an 8.7%
increase when comparing May 2019 to May 2018. Washington County also
saw an improvement — a 5.9% increase, while Milwaukee and Ozaukee
counties both declined, 3.2% and 2.9% respectively.
“There have only been six times May sales have exceeded 2,000 sales
since 2000, in 2005 and 2006, and the last four consecutive years.
Sales in the past four years were within a 68 unit range. In 2016
there were 2,111 sales, 2,179 in 2017, and 2,121 in 2018, compared
to 2,136 sales this May,” reads the report by GMAR President Mike
“Given the regional economy — low unemployment, low interest rates —
it’s no surprise there was healthy demand for homes by those seeking
them. 69% of sales occurred within 30 days of a home being listed,
and most of those, 68%, were priced under $300K.”
Home listings overall were down for the metro region.
Milwaukee County new listings declined 6.1% in May, compared to last
year, and Washington County also dipped by 3.2%. Waukesha County new
home listings increased 1.9%, but Ozaukee County had the greatest
increase at 19.8%. The average for the four-county region was a
“The metropolitan market could use an additional 3,670 listings
(more than half priced under $300,000) to come close to satisfying
current demand. That’s on top of the 6,438 listings currently in
MLS,” Ruzicka wrote.