Housing Market: Sales Up, Prices Up

MILWAUKEE — More homes are selling and the prices are going up in metro Milwaukee area, according to the most recent analysis of the housing market by the Wisconsin Realtors Association.

Home sales rose 8.8 percent in April 2016 compared to that same month in 2015, making April 2016 the strongest April sales volume since 2005. This sales pace helped push statewide median prices to $161,622, which is 4.9 percent higher than April 2015.

“We’re entering our fifth year of price recovery, and home prices are likely to continue in the foreseeable future,” said WRA President & CEO Mike Theo. “Housing demand is strong due to a growing economy and low interest rates, whereas housing supply continues to be tight statewide,”

Here is how home prices and sales are shaping up this year compared with last year at this time:

Milwaukee County

Median Price

This Year: $145,000

Last Year: $132,000

Percent Change +9.8%

Sales

This Year: 1,032

Last Year: 872

Percent Change: +18.3%

Ozaukee County

Median Price

This Year: $237,000

Last Year: $237,000

Percent Change 0

Sales

This Year: 113

Last Year: 113

Percent Change: 0

Racine County

Median Price

This Year: $140,000

Last Year: $140,500

Percent Change -0.4%

Sales

This Year: 247

Last Year: 235

Percent Change: +5.1%

Washington County

Median Price

This Year: $205,000

Last Year: $196,500

Percent Change +4.3

Sales

This Year: 170

Last Year: 167

Percent Change: +1.8%

Waukesha County

Median Price

This Year: $260,000

Last Year: $240,750

Percent Change +8.0%

Sales

This Year: 545

Last Year: 484

Percent Change: +12.6%

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