Metro Milwaukee home sales up 13% last month

September sales in area exceeded 1,700 for first time since 2005

Last updated on July 2nd, 2019 at 09:11 am

Home sales in the four county metro Milwaukee area were up 13.1 percent in September to 1,738, compared to 1,537 in September of 2014, according to the Greater Milwaukee Association of Realtors.

For the month, home sales in Milwaukee County were up 12.1 percent to 905, sales in Waukesha County were up 18.4 percent to 553, home sales in Washington County were up 6.5 percent to 163 and home sales in Ozaukee County were up 6.4 percent to 117.home sale chart image

September home sales in the four county metro area have not been above 1,700 since September of 2005.

For the entire third quarter, home sales in the metro area were up 11.9 percent to 15,348, compared to 13,714 home sales in the third quarter of 2014. Third quarter home sales were up 7.9 percent in Milwaukee County, 15.6 percent in Waukesha County, 20.4 percent in Washington County and 16.9 percent in Ozaukee County.

“All four metropolitan counties saw very healthy gains in units sold,” said GMAR president Mike Ruzicka. “The 2015 market can be characterized as very solid, with buyers quickly absorbing available listings since the beginning of the year. The GMAR expects this trend to continue through the rest of the year.”

The prices of homes sold are also on the rise. Third quarter average home sale prices, according to GMAR:

  • Milwaukee County, up 7 percent to $160,645
  • Waukesha County, up 3 percent to $288,866
  • Washington County, up 8 percent to $221,841
  • Ozaukee County, up 8 percent to $296,003

The inventory of homes available for sale remains tight. The number of homes listed for sale in the metro area was down 3.4 percent.

“Healthy increases in unit sales and tight inventory has expressed itself in higher prices,” Ruzicka said. “The average sale price in all four counties was up solidly in the third quarter. While reasonable price gains are always welcome, the market has (still) not completely recovered from a very deep recession.”

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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