Unleashing in 2020 and continuing into 2021, the Oconomowoc real estate market has been lively. Supply of homes for sale were at historic lows, buyer demand surged, and home prices sky rocketed. The Covid-19 pandemic affected both supply and demand of housing. This summer began with the same vitality, but now the market is beginning to lighten up. MEDIAN SALES PRICES For the first seven months of the year, the average median sales price was up over 11% for homes in Waukesha County, compared to the same time period last year. We are still seeing bidding wars for popular homes… Read More

The first half of 2021 had strong home sales, and robust median home price growth in Waukesha County. The number of home sales in the county were slightly up from 2020. The median home sales price increased over 11.5% in the first half of the year, compared to the respective time frame last year. Forecasts predicted June home sales would fall flat or decrease, given the tight inventory of homes for sale. Home sales in June exceeded the number of sales a year ago in the County, but below the number of sales for the same month in 2015 through… Read More

Total listings of homes for sale in Wisconsin plummeted nearly 40% over the last 12 months, which boosted the median home sales price over 10%, according to a recent analysis by the Wisconsin REALTORS® Association (WRA). This was a drastic difference from the modest 5% shrink in inventory in March 2020 compared to March 2019. The southeast region of the state remains a strong seller’s market. Remarkably, there wasn’t a region in Wisconsin that had more than 2.6 months of supply of homes in March, the WRA’s report revealed. A balanced market is indicated by having 6 months of supply…. Read More

Since July of last year, median home prices in Wisconsin have grown at an annual rate of 9.7% or higher each month, according to the latest housing market report from the Wisconsin REALTORS® Association (WRA). Housing inventory continues to be in short supply, which has led to a relentless period of solid price appreciation. Despite the rise in home prices, the backlog in buyer demand has fueled strong home sales. The bulk of homes for sale in Waukesha County were under contract, detailed in the graph below (as of March 17, 2021 when our data was compiled). Remarkably, over 90%… Read More

The real estate market started off strong to kick off 2021. January is typically the quietest month of the year in real estate, however both sales and prices improved from January 2020 in Wisconsin. Our local southeast region had the highest number of January home sales in the state, up 4% from the respective month last year. If you have a property up north, you may be interested in hearing that home sales jumped 31% in the north region, over the same time period. Locally, the median home sales price in Waukesha County grew an impressive 10% to $330,000 comparing… Read More

Home Sales This summer had a housing heatwave during the June-August period. Home sales in Wisconsin were the strongest they have ever been during the summer season, topping off at 27,795 sales according to the Wisconsin REALTORS® Association’s (WRA) most recent home sales report. In Waukesha County, home sales between January and August were slightly below the number of sales during the same time period last year. The hindered spring real estate season, due to COVID-19, is presumed to be the primary culprit for the tremendous number of home sales this summer. Home Prices The median home sales price was… Read More

Home sales last month hit a new record for the month of July. Sales were up 7.6% compared to the previous record set in July 2019, according to the Wisconsin REALTORS® Association’s (WRA) latest home sales report. Median home prices increased over 10% in July, compared to the respective month last year. On an annual basis, home prices in Wisconsin have been appreciating quickly. Luckily for buyers, record low mortgage rates have helped offset the high home sale prices. Last month, the 30-year fixed mortgage rate was 3.02%, compared to 3.77% just a year ago. Homes and condos are selling… Read More

The Wisconsin REALTORS® Association (WRA) announced that statewide home sales in May plunged nearly 26% compared to last May, in wake of the national emergency and stay at home order in Wisconsin. The local real estate market was on track to have a strong spring season, but as you can see in the graph below, home sales in April and May were significantly lower compared to the same months last year. Taking a glance at the first five months of the year compared to the respective time period last year, WI home sales were behind by 5.5% but prices surged… Read More