compass – Annie Z Realty – Compass formerly Keefe

NATIONALLY

Summary: Existing home sales increased slightly compared to last year.

The most recent monthly report, by the National Association of REALTORS®, was just released entitled, “Existing-Home Sales Continue Upward, Increasing 1.9% in November,” (by Quintin Simmons, published December 22nd, 2021). The following bullet points are additional highlights from this news release.

“Existing-home sales rose 1.9% in November from October to a seasonally adjusted annual rate of 6.46 million.”

“The median existing-home sales price rose 13.9% year-over-year to $353,900.”

“From one year ago, the inventory of unsold homes decreased 13.3% to 1.1 million – equivalent to 2.1 months of the monthly sales pace.”

“Existing-home sales in the Midwest ticked up 0.7% to an annual rate of 1,520,000 in November, a 0.7% drop from a year ago. The median price in the Midwest was $260,100, a 9.0% jump from November 2020.

STATEWIDE

Summary: The state of Wisconsin has just about kept pace with last year’s sales; the Southeast outsold the other regions of the state, with the smallest margin of increased median sales price.

“Wisconsin’s November existing home sales kept pace with the strong sales of a year earlier, falling just 0.8% over the 12-month period. The median price rose 7.6% to $240,000 over that same period.”

“As we approach year-end, sales performance varied regionally on a year-to-date basis. The strongest sales were seen in the Southeast region, which is running 3.7% higher than last year.”

“On a year-to-date basis, all regions have seen their median prices rise, with the Southeast region up by the smallest margin, up 6.8%, compared to the January-through-November period last year […]”

“All measures of inventory fell over the past 12 months, including total listings, which were down 7%; new listings, down 1.9%; and months of available supply, down 10%.”

LOCAL MARKET

Summary: Our metro-Milwaukee area generally saw a decline in new listings and closings in November 2021, in comparison to our record November last year. This was true too of my hyper-local (Lake Geneva – Delavan – Williams Bay) area.

Below are the Local Market Reports, by MetroMLS, for the Counties of Kenosha, Racine, and Walworth, as well as the Lake Geneva-Delavan-Williams Bay area, and their monthly blog post called Market Reports: November 2021, by Dan Zielinski of FlexMLS, reflecting our hyperlocal multiple listing service area based out of Metro-Milwaukee.

Active listings decreased 3.1% and sold listings went down 1.8% compared to this time last year. The Months of Supply of Inventory experienced a slight decrease, falling 1.3% compared to last November.

by Dan Zielinski | December 14, 2021 | Metro MLS, FlexMLS

The following is a breakdown of our October 2021 housing market — Nationally, Statewide, and Hyperlocally.

NATIONALLY

Summary: Existing home sales, median sales price and days on market all rose, month over month and year over year, on a national and regional scale.

The most recent monthly report, by the National Association of REALTORS®, was just released entitled, “Existing-Home Sales Inch Up 0.8% in October,” (by Quintin Simmons, published October 22nd, 2021). The following bullet points are additional highlights from this news release.

Existing-Home Sales

“Existing-home sales increased in October, marking two straight months of growth, according to the National Association of Realtors®.”
“The median existing-home price for all housing types in October was $353,900, up 13.1% from October 2020 ($313,000), as prices climbed in each region.”
“Properties typically remained on the market for 18 days in October, up from 17 days in September and down from 21 days in October 2020.”
“Existing-home sales in the Midwest rose 4.2% to an annual rate of 1,500,000 in October, a 6.3% decrease from a year ago.”
“The median price in the Midwest was $259,800, a 7.8% jump from October 2020.”

STATEWIDE

Summary: The state of Wisconsin saw a decline in home sales and listings, while median home price increased, in the month of October 2021, compared to October 2020. However, year to date numbers show home sales are slightly above last years’.

The Wisconsin REALTORS® Association, released their monthly market report with the headline, “Continued Strong Seller’s Market Drives Home Prices Up in October.“ Here are some additional key takeaways:

October 2021 Home Sales Report

October 2021 Housing Statistics Infographic Report

“Existing home sales dropped 12.3% between October 2020 and October 2021, even as median home prices rose 7.5% to $245,000 over the same period.”
“Existing home sales are just 0.1% higher than year-to-date sales in 2020.”
“In contrast, the year-to-date median price rose to $241,000, which is 9.5% ahead of last year’s median price for the January-through-October period”
“After five months of sub-3% mortgage rates, the 30-year fixed-rate mortgage increased to 3.07% in October.”

LOCAL MARKET

Summary: Much like our state, our metro Milwaukee market witnessed a decline in sales and new listings, while days on market and median sales price inclined. Our Tri-County Area market, of Racine, Kenosha & Walworth Counties, saw the same except Kenosha County, where there was a spike in new listings compared to last year.

Below are the Local Market Reports, by MetroMLS, for the Counties of Kenosha, Racine, and Walworth, as well as the Lake Geneva-Delavan-Williams Bay area, and their monthly blog post called Market Reports: October 2021, by Dan Zielinski of FlexMLS, reflecting our hyperlocal multiple listing service area based out of Metro-Milwaukee.

MetroMLS also published a Quarterly Housing Summary by Zip Code found here! Very useful breakdown!

MARKET REPORTS: October 2021

In the four-county Milwaukee metropolitan area, active listings are down 5.1% and sold listings are down 13.7% compared to this time last year. The Months of Supply of Inventory experienced an uptick, increasing 9.9% compared to last October.
Below is a breakdown of the 13 counties for single-family and condo properties.
by Dan Zielinski | November 12, 2021 | Metro MLS, FlexMLS

Other Market Updates to Consider

Home sales rose in October as investors rushed into the market by Diana Olick, CNBC

October 2021 Monthly Housing Market Trends Report by Sabrina Speianu, Realtor.com

Sellers: I can’t wait to see November’s numbers, because there have definitely been more listings coming onto the market this time of year than I’m used to seeing. It’s not too late to list given the current demand. Contact me or follow the link below if you would like a custom, free home valuation.

Your free, instant Home Valuation here: HomeValuationzByAnnie.com

Buyers: While some may caution against getting a pre-approval or purchasing a home with the holidays coming up, I believe it is a great time of year to take advantage of negotiable sellers whom want to sell his or her home before the end of this fiscal year. If you need guidance, I am here to help – please feel free to reach out!

All the best,

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