April 2021 Housing Market Update

  • Lake Geneva Area Make BIG JUMPS Year Over Year According to MetroMLS
    • +133% in New Listings
    • +96.7% in Closed Sales
    • +30% in Median Sales Price

Like clockwork, every spring, people across the central United States are reinvigorated by Spring in bloom. This year, with the mask order lifted, that breath of fresh air feels like life-saving medicine. Exactly what the doctor ordered. This time last year, April 2020 was the first full month of pandemic status under coronavirus. It was also the first month where the real estate market took a real hard hit. This is important, because the year-over-year numbers in this update seem…unreal. But the truth is, our farmers were able to sow their seeds early, and we’re bloomin’, baby.

Not just in comparison to last year, but even in relation to last month, we’re seeing an uptick on all major indicators: New Listings, Closed Sales AND Median Sales Price. The following images are side-by-side comparisons for Kenosha County, Racine County, Walworth County and the Lake Geneva, Delavan, Williams Bay area. On the left are March 2021 Local Market Reports (by MetroMLS® & ShowingTime®). On the right are April 2021 Local Market Reports . This is not a mirage. The tri-county area here in Southeastern Wisconsin is thriving. We’re better today than we were last month, and even more so than last year.

Metro-Milwaukee Highlights:

April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above the asking price. By the time a property sale closes with such strong activity, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who frequently have to submit offers on multiple properties before they can secure a purchase.

[…] Buyers, sellers, and agents are all trying their best to predict where the housing market is going. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.

Zielinski, DanMonthly Indicators

Nationally, things look a little different. Interestingly enough, the Midwest as a whole outperformed the other three major regions of the country last month, as well. The snippets below are from the latest press release, “Existing-Home Sales Decline 2.7% in April,” by NAR®, the National Association of Realtors.

National Highlights:

“Existing-Home Sales Decline 2.7% in April.”

April Existing Home Sales, National Association of REALTORS®

Existing-home sales waned in April, marking three straight months of declines, according to the National Association of Realtors®. All but one of the four major U.S. regions witnessed month-over-month drops in home sales, but each registered double-digit year-over-year gains for April.

[…]

Only the Midwest experienced higher sales from the prior month, but each of the four major U.S. regions recorded year-over-year increases.

Simmons, Quintin. “Existing-Home Sales Decline 2.7% in April.” NATIONAL ASSOCIATION OF REALTORS®

Read the April 2021 Existing Home Sales Report by NAR here


Notable Market Updates:

April 2021 Monthly Housing Market Trends Report: Homes Are Selling Lightning Fast Amid a Continuing Inventory Crunch

Speianu, Sabrina.April 2021 Monthly Housing Market Trends Report.” Realtor.com®

Sellers: If you think buyer demand is going to stay as high as it is right now, do yourself a quick favor and search “news on interest rates.” The sheer volume of articles written on this should tell you: interest rates are bound to go up and curb buyer demand. The best time to sell is when you have the most competitive buyers in the market; right now is the strongest sellers’ market I have witnessed.

Your free, instant Home Valuation here: HomeValuationzByAnnie.com

Buyers: Interest rates may never be as low as they are currently again! It is competitive, but with the right buyers’ agent, and the right strategies, you still have a chance to get into the home of your dreams. Reach out, I’d be happy to help.

All the best,

ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT
KEEFE REAL ESTATE  |  LAKE GENEVA, WI 53147
PHONE 262.348.3253   |   262.215.1982
EMAIL   azambito@keeferealestate.com  |  anniezrealty@gmail.com
OFFICE   262.248.4492  |  www.keeferealestate.com    



Sources

© 2021 “Local Market Reports.” MetroMLS® & ShowingTime®. All Rights Reserved. May 21, 2021.

Zielinski, Dan. “Monthly Indicators.” FlexMLS® & Metro MLS®. May 21, 2021.

April 2021 Existing Home Sales Report.” NATIONAL ASSOCIATION OF REALTORS® . May 21, 2021.

Simmons, Quintin. “Existing-Home Sales Decline 2.7% in April.” NATIONAL ASSOCIATION OF REALTORS® . May 21, 2021.

Speianu, Sabrina.April 2021 Monthly Housing Market Trends Report.” Realtor.com® May 21, 2021.

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