Area home sales up 15% in August

The number of homes sold in the four-county metro Milwaukee area increased by 15 percent in August to 1,862, compared to 1,619 homes sold in August of 2012, according to the latest report from the Greater Milwaukee Association of Realtors (GMAR).

The number of homes sold in Washington County increased by 36 percent to 185, sales in Ozaukee County were up 26.9 percent to 151, sales in Milwaukee County were up 13.1 percent to 942 and sales in Waukesha County were up 10 percent to 584.

The early months of the year were characterized by low inventory levels, but more sellers are returning to the market and August was the fifth consecutive month of increased listings-year-over year, according to the GMAR.

“The market is proving to be very balanced favoring neither buyers nor sellers, in contrast to the wild swings we saw over the last decade,” said Mike Ruzicka, GMAR president. “Sellers should not assume they will get whatever they ask for, and buyers should know the days of deep discounts are gone.”

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