Milwaukee home sales up 7.8% in June

The number of home sales in the four-county metro Milwaukee area increased by 7.8 percent in June, compared with June of 2012, to 1,925 sales, according to the latest report from the Greater Milwaukee Association of Realtors (GMAR).

Home sales in the metro were up 10.9 percent for the first half of the year, compared to the first half of 2012, the report said.

First half sales were up 7.7 percent in Milwaukee County, up 11.9 percent in Waukesha County, up 28.3 percent in Washington County and up 12.1 percent in Ozaukee County.

The prices of homes sold in the region are also on the rise, according to the report. In the first half of the year average home sale prices were up 12.2 percent in Milwaukee County to $137,804, up 5.7 percent in Waukesha County to $269,672, up 1.7 percent in Washington County to $197,669 and up 11.8 percent in Ozaukee County to $277,454.

Inventory levels of homes for sale during the first half of the year were down 2.7 percent compared to the first half of 2012. Inventory levels were even lower than that in the first part of this year, but have increased recently as sellers are reacting to the improving housing market, the report said.

“Throughout the first half of the year the market has been saddled with low levels of inventory,” said GMAR president Mike Ruzicka. “In June it appeared that sellers were getting the message that prices had stabilized and they were willing to dip their toes into the sales pool.”

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