January 2020 Local Market Update

Southeastern Wisconsin

Photo by Oleg Magni on Pexels.com

Our Metro-Milwaukee Area Multiple Listing Service gathers real estate stats for each month; they compile data points into graphs and highlight renown voices to provide a comprehensive Local Market Update. The following is from their latest report, released Tuesday, February 10th, regarding our hyper-local, Southeastern Wisconsin area for the month of January 2020.

10 K (Local) Market Research Reports by Multiple Listing Service Data Notes:

  • Single Family and Condominium property types only are used in all reports.
  • Monthly Supply of inventory: Instead of just the most recent month, they look at the average number of monthly pending sales from the last twelve months. This removes the effects of seasonality (i.e. there are way more sales in June than there are in December) and makes it easier to compare month-to-month numbers.

In their “Monthly Indicators,” the MLS is promoting an optimistic point of view for this year…

For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4%,” the long term NAR economist predicts. He is also expecting the new-home construction market sales to increase 10%. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price gains in that segment.

We start off the year with continued low interest rates, low unemployment, and rising rents nationally. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market.

Metro MLS Report © 2020 ShowingTime

Did you know?

2019 TOTAL SALES VOLUME INCREASED BY ~14%! (compared to 2018)*

ALSO: Walworth, Williams Bay and Genoa city saw a nearly 20% increase in median pricing; Lafayette saw a 53% increase in volume; Median Pricing and Ave Price Per Square Foot both increased, and days on market generally dropped*

Want more info?

For YOUR copy of the 2019 Market Update by Keefe Real Estate* email azambito@keeferealestate.com

* Copyright © 2020 Keefe Real Estate

January was clearly a hard month for my current area, Lake Geneva. That being said, I am positive for the year overall. If there ever was a time to sell, now is it; the seller’s market is very very strong. Don’t hesitate to reach out for a home valuation, my contact information is as follows!

Let me know if you found this helpful in the comments below, or shoot me a message on my socials!

❤ always, Annie Z.

PHONE 262.348.3253   |   262.215.1982
EMAIL   azambito@keeferealestate.com  |  anniezrealty@gmail.com
OFFICE   262.248.4492  |  www.keeferealestate.com    

Data Source: All data from Metro MLS. Report © 2020 ShowingTime.


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