Milwaukee Market Update Dec. 2021

Milwaukee Market Update Dec. 2021

It’s your local market update, so what’s happening here in Milwaukee, Wisconsin. Everyone wants to know, are we going to see a crash, and what should I do with my home? It can be so confusing with all the news, whether it be positive or negative, or what is the best choice to make for my family. And I totally understand, I’m in the industry, and have been for over 20 years, and I can help you navigate this market. So let’s look at the data of what’s happening so that you can make an educated decision. First off, according to the real estate experts and advisors, anytime you have inventory levels that are six months of inventory or below, that means that we are in a seller’s market. And any time we have levels above six months, we are in a buyer’s market. It’s sort of like the supply and demand theory. When there’s a limited supply, like there is right now, then the prices will go up. So let’s see what the inventory levels are doing here locally. Is it a good time to sell in Milwaukee, Wisconsin? Well, let’s look at what happened in the month of October. In Milwaukee County, currently at the time of this video, we have 673 homes that are actively for sale on the market. The average time to sell these homes was only 59 days, and we have 2.05 months worth of inventory, which shows us that we are in a strong seller’s market. Now, you may be wondering if it’s a good time to sell in West Allis, Wisconsin, 53214. In West Allis, Wisconsin, We have currently 42 homes that are on the market, and in November, 25 homes were sold. Again a seller’s market because we have exactly 1.16 months worth of inventory, another strong seller’s market. So here in West Allis, we have a very low inventory and strong buyer demand. It’s a great time to sell, and we are consistently experienced bidding wars and homes being sold above list price. Feel free to reach out to us at no cost or risk for a hassle-free strategy session. I’m looking forward to hearing from you. I’m Rich Barnes, Realty Experts, and as always, you can relyonrich.com. Thanks, and you have a great day.

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