December market report

As we ring in the New Year, we are hopeful to see more successes in the 2018 market as we did in 2017. We start the year out with a 'bang' as we take a look at these incredible year ending numbers in December 2017. Take a look .... 

• 2017 was the BEST sales year since 2005 
• Home sales in SE Wisconsin surpass the 'peak' of 2007
• Listing inventory remains staggering LOW
• Sale prices continue to increase compared to those of 2016.
   MILWAUKEE = + 14.07%
    WAUKESHA = + 32.40% 
   WASHINGTON = +14.89% 
   OZAUKEE = + 38.64% 

It's encouraging to see that home sales continue to rise as we begin the 2018 market. The gradual rise should leave us encouraged that things are happening at a reasonable level as opposed to rapidly,resulting in another 'bubble' and ultimate crash. Listing inventory still remains low, which will continue to keep prices competitive and home sellers will continue to benefit from a 'sellers market'. If you are a home seller who is considering selling their home, the winter months may become more appealing as buyers begin their searches early in anticipation for a 'low inventory' spring. If you are a home buyer, consider begining
your search now as the market will only become more competitive this spring. If you are not the 'competitive' type of buyer and prefer to work on a more relaxed and negotiable time frame, begin your search early.You might not have that luxury as inventory tightens this spring. 

Statistics and graphic courtesy of GMAR (Greater Milwaukee Association of Realtors)