Milwaukee area residential real estate market ends 2015 strong

Sales are up and homes in foreclosure are declining

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

The residential real estate market in southeastern Wisconsin finished 2015 strong with the best December since 2004 and healthy price increases in all counties, according to the latest report from the Greater Milwaukee Association of Realtors.

Home sales were up 10.6 percent in December in metropolitan Milwaukee for the 11th consecutive month with 1,385 homes sold, compared to 1,252 in December of 2014.

Home for sale

For the year, the market saw 19,611 total sales, compared to 17,749 in 2014, a 10.5 percent increase.

December was the fifth consecutive month of decreased listings in 2015.

The average sale price in the four county metro area (Milwaukee, Waukesha, Washington and Ozaukee counties) was up in 2015 with Washington County leading the way with a 9.7 percent increase. The highest prices are in Ozaukee County, with the average sales price at $296,312.

In a separate study by CoreLogic, an Irvine, Calif.-based data analytics firm, national foreclosure inventory declined 21.8 percent in November 2015, compared to November 2014.

In Wisconsin, there were 5,418 completed foreclosures for the 12-month period ending in November, compared to 7,504 for the 12-month period ending November 2014, according to CoreLogic.

Read more economic data reports on the BizTracker page.

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