Is the market picking up in Milwaukee Wisconsin?

Asked by Sarah, Milwaukee, WI Tue Jul 21, 2009

I was advised a year ago that I could not get what I needed to get for my I really need to try to list them, but don't want to spin my wheels if things are not any better.

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Sally K. Hanson’s answer
Sally K. Han…, Agent, Elm Grove, WI
Thu Jul 23, 2009
If there have been short sales and foreclosures that have sold in your neighborhood...that is what will determine the price of the duplexes you wish to sell...whether or not the market is selling is not the real barometer...IF these kinds of sales have taken place...they become the new comparables...and the comparable window of sales for appraisals is now 60-90 days. So if you look at older sales, they are no longer valid for pricing your property. Look at the rents...if a buyer puts down 20% is there cash flow ? Find out from a reputable realtor what similar properties have sold for very recently....that will tell you if you can put your duplexes on the market at a profit. Without knowing the area and condition no realtor can give you an answer. Good Luck and know that there are competent people willing to give you accurate not "wishful" pricing at no cost.
0 votes
Linda S. Cef…, Agent, Franklin, WI
Wed Jul 22, 2009
Hi Sarah,

I agree with Betsy and Ken. It depends on where the properties are located and how much competition you have there. Also, it will depend on the condition of the properties.

After determining that, I might add that you may want to think about concentrating on one of them and if you haven't already done so, updating is extremely helpful.

Currently, I am working with 19 buyers so I know what they are looking for. I would be happy to advise you if you need more information.

Feel free to contact me.

Linda S. Cefalu, Realtor, RE/MAX Reatly 100
Recipient FIVE STAR AGENT award 2008 & 2009
as seen in Milwaukee Magazine
BNI member in good standing
0 votes
Keith Manson-…, , Milwaukee, WI
Tue Jul 21, 2009
Here is the market data as the end of june. I try to update market monthly in the milwaukee area. Here is what I said in June 2009.

There were 473 sales during June 2009 with an average sales price of $105,989 with an average list to sale ratio of 96.69%. In addition there 463 accepted offers with scheduled closings in the future.

In June 2009 there were only 2 less sales when compared to June 2008 results. However, there were 156 fewer new listings or a reduction 12.6% in new listings.

There are currently 5126 listed properties with an average list price of $183,968 and average of 147 days on the market.

Keith Manson
First Weber Group
Certifed Distress Property Expect
0 votes
Betsy and Ken…, , 53217
Tue Jul 21, 2009
Hi the market is picking up and well priced homes are selling. The condition as well as location will deterimine how much you can get for your duplexes. We would be happy to come and take a look for you.

Betsy and Ken Head
Realty Executives.
0 votes
Tue Jul 21, 2009
Things are slightly better than last year but price is not. Prices are lower between 5-15+% since last year depending on location. Inventory is improving but lending and appraisals are tougher than last year. it will be awhile before prices can start to go back up.
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