Home sales soar in Milwaukee market

Home sales in the metropolitan Milwaukee market increased 16.4 percent in September, compared with the same month a year earlier, according to the latest report by the Greater Milwaukee Association of Realtors.

Through the third quarter, the metro Milwaukee market had a 12.7 percent increase in sales vs. 2012.

There were a total of 1,484 homes sold in the market in September, compared with 1,275 in September of 2012.  For the first 9-months of the year, there were 13,917 sales vs. 12,349 during the same span in 2012.

Ozaukee County led the four-county market with a 20.5-percent September hike, followed by Milwaukee County (up 19.6 percent); Waukesha County (up 12.1 percent); and Washington County (up 8.5 percent) .

“While the fall/winter market usually sees a slowdown in activity, we expect 2013 to end on a positive note. With nearly 14,000 sales completed, and a historic average of 3,000 to 4,000 sales in the fourth quarter, we are comfortable projecting that 2013 will end with approximately 17,000 sales. That would put the year on the level of the early 2000s, when we saw total annual sales in the high teens,” said Mike Ruzicka, president of the GMAR.

The Village of Greendale led the Milwaukee County surge with a 44.4 percent increase, going from 99 units sold in the first nine months of the year to 143 units this year. The Village of River Hills led with the largest percentage increase in sales price, up 23.2 percent.

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