August home sales go up 5% in metro Milwaukee
More listings desired, GMAR president says

Freeman Staff

Sept. 12, 2019

 Milwaukee area home sales increased in August for the second consecutive month
even as listings decreased.

Brianna Vogel/Conley Media

MILWAUKEE — August was the second month in a row with increased home sales and only the third month in 2019 to show an increase in sales.

The Greater Milwaukee Association of Realtors reported Wednesday that 2,224 homes sold in August 2019, versus 2,119 units in August 2018 — an increase of 5% — for the four-county metro Milwaukee area.

Milwaukee County was the only county that saw a decline, 1.7%. Home sales increased 12.5% in Waukesha County, 14% in Washington County and 14.5% in Ozaukee County.

“This point in the annual cycle often sees sales start to trail off, but with a strong regional economy — low unemployment, household growth, low interest rates — it’s unsurprising that demand was healthy. Brokers expect this level of interest to continue into the fall,” reads the report prepared by GMAR President Mike Ruzicka.

“While the market is clearly leaning in favor of sellers, many buyers are pushing back and not accepting sellers’ ‘take it or leave it’ attitude. Multiple offers have slowed slightly, and, therefore, buyers are making counter demands,” he said.

Listings in the four-county region decreased 1.4% in August.

Ozaukee County was the only one of the four counties to see an increase in listings at 5.6%. Milwaukee County’s declined 1.5%, Waukesha County’s declined 0.8% and Washington County had a slide of 7%.

The metropolitan market could use an additional 3,275 listings — mostly under $300,000 — to come close to satisfying current demand, Ruzicka reported, which is in addition to the 6,809 listings currently in MLS.