So How Are Real Estate Sales in Ozaukee and Washington Counties??

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Real Estate Agent with Think Young Team--Realty Executives Integrity R.E. Broker 55289-90

Seems everywhere I go these days people are asking, "So how is the real estate business?" And it seems that many of my colleagues are getting the same question.

I happily am able to answer that with a heartfelt, "Great!" Yes, activity is certainly picking up out there. Open house traffic is increasing, even in those homes that hadn't had visitors for a while. Some homes are getting multiple offers, and the days on market don't seem to be hitting the three-digit numbers as often any more.

Are we out of the woods? Probably not. But what we've seen in Ozaukee and Washington county homes sales since January 1st of this year through today compared to the same time last year is promising. As you can see in the chart below, the number of single-family units sold in Ozaukee County is up 31% this year over the same time period one year ago. Prices, however, have dropped about 6%.

Washington County also saw an increase in number of units sold -- about 6% over the same time last year. Prices stayed just about the same.

Ozaukee_Washington solds

It's important to understand, however, that because of shadow inventory -- those short sales and foreclosures that are expected to come on the market over the next several months -- prices are anticipated to drop a bit more through most of 2012.

Wisconsin shadow inventory

If you are thinking about selling, now is the time to do it. And if you're thinking about buying, this is the time, as well, with interest rates hovering near and even below 4%.

I'm hopeful the worst is behind us and look forward to helping home ownership become a reality for more families and individuals in 2012.

 

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Topic:
Real Estate Market Trends
Location:
Wisconsin
Groups:
Wisconsin Homes for Sale
Wisconsin Active Rainers
Shorewest Realtors
Tags:
washington county real estate
ozaukee county real estate
washington county home sales
ozaukee county home sales

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Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Pasadena Real Estate Representation 818.516.4393

Peggy -- good news is always welcome -- and I love when I hear the question "how's the market" -- it's a great way to start a conversation and it can go in many different directions.

 

On a different, note --- do you think the NAR stats on the shadow inventory are accurate?   We've been hearing about it for many months without anything occuring at the level we've been "told" ---- 

March 18, 2012 09:26 PM #1
Rainmaker
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Peggy Wester
Think Young Team--Realty Executives Integrity - Grafton, WI
Real Estate Agent Ozaukee & Washington County Real

Hi, Michael

We are continuing to see more short sales and foreclosures pop up in our area. While I'm sure we are not the hardest hit area of the state, I wouldn't be surprised if overall, Wisconsin has 11 months of shadow inventory. It'll be interesting to see what happens over the next few months, especially with the spring and summer markets.

March 19, 2012 06:18 AM #2
Rainmaker
495,539
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Peggy, the market is definitely changing here in PA. Activity is stronger, like you have noted, and I do not think we have much inventory. I expect to see our prices begin to slowly creep upward. I am also hopeful that the worst is behind us.

Cal

April 04, 2012 03:24 AM #3
Rainmaker
204,504
Peggy Wester
Think Young Team--Realty Executives Integrity - Grafton, WI
Real Estate Agent Ozaukee & Washington County Real

Hi, Cal -- it's always good to hear that other parts of the country are starting to see improvement, as well. Here's to a great spring and summer for all!

April 05, 2012 09:49 AM #4
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Rainmaker
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Peggy Wester

Real Estate Agent Ozaukee & Washington County Real
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