The housing market in southeast Wisconsin continues to look good in 2018. The driving forces in today’s market are solid buyer demand, limited inventory and first timers ready to buy. According to recent housing statistics published by the Wisconsin REALTORS® Association (WRA), the number of home sales between December 2017 and February 2018 was 15.8% higher than just 5 years ago. They went on to report that this winter had record high sales since they re calibrated their data system in 2005.
Home sales in January grew 3.5% and the median home sales price increased 4.9% compared to January 2017. The number of home sales in February was over 7% higher and the median home sales price was up 6% compared to February 2017.
As we approach the 2nd quarter of the year, the real estate market is anticipated to become livelier with more home sales and higher median sales prices. Naturally, a livelier market denotes more competition for home sellers and buyers. A good way to try and get ahead of the competition is to begin house hunting with a realtor from the start, since they are the first to know of new listings that hit the market and may know of upcoming listings that are not made public yet. With the way the market is right now, buyers must be ready to act quickly.
Whether you’re looking to buy or sell, it is highly encouraged to work with an experienced realtor to help navigate you through today’s aggressive real estate market.
To discuss your real estate needs contact us online or call our office at (262) 567-3611