Real Estate Continues to Thrive Throughout the Greater Milwaukee Area

The Greater Milwaukee Area real estate market continues to be a hot seller’s market entering the summer months. According to a recently released report by the National Association of Realtors (NAR) the Greater Milwaukee Area ranks in the top 10 metros with the largest year-over-year home price gains.

Wisconsin was also represented highly in the report with 3 out of the top 10 metro areas making the list which included Oshkosh-Neenah, and Appleton.

But what specifically has propelled Milwaukee into one of the nation’s highest appreciating real estate markets? Let’s delve into these factors below:

Low Inventory: It’s well known by now that across the country there is a shortage of available homes for sale. According to Freddie Mac a minimum of 3.4 million housing units are needed to match long-term demand. This has led to a robust seller’s market throughout the nation and the Greater Milwaukee Area.

• Pandemic Influence: The pandemic sparked a surge in demand for single-family homes as people seek larger spaces and outdoor areas. This increased desire for more space has contributed to the heightened demand in Milwaukee’s real estate market.

• Low-Interest Rates: Favorable interest rates have helped make homeownership more affordable, driving up demand for homes with a larger buyer pool.

• Millennial Buyers: This generation is now the largest in the workforce and is actively entering the real estate market, further fueling the demand for properties in the Greater Milwaukee Area.

• Migration From Chicago: The Greater Milwaukee Area is an attractive option for buyers looking to relocate from Chicago. The appeal lies in work and recreational opportunities, great schools, a lower cost of living, and an abundance of entertainment options.

An Influx of Transferees: Milwaukee is witnessing an influx of individuals and families relocating from other parts of the country, drawn by its quality of life and the area's abundance of natural resources.

Affordability: Milwaukee is more affordable than a lot of major US cities which transferees find attractive as they seek out new employment opportunities.

Quality of Life: Endless opportunity awaits throughout the Greater Milwaukee Area with professional sporting events, thriving arts and culture scenes, and year-round outdoor activities.

Strong Economy: The Greater Milwaukee Area’s robust economy plays a significant role in driving up the hot housing market. With low unemployment rates and rising wages, people have more disposable income, leading to rising home prices.

What Sellers Need to Know

When selling your home in the Greater Milwaukee Area, there are several factors that can increase your chances of a swift sale for TOP DOLLER!

• Ensure your home presents itself in top shape both in cleanliness and maintenance.

• Highlight the positives of your home with staging, making it easy for potential buyers to envision themselves there.

• Pricing your home accordingly by working with an agent that does their homework. Selling at the correct price FIRST will always net you more for your home.

Contact The Brill Team today to learn more about how we can help you get TOP DOLLER for your home.