area home sales increased in August for the second
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
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.