The sellers’ market continued in July, with the median sales price increasing while inventory levels and days on market decreased compared to last July.
New listings in the Milwaukee region increased 2% to 2,700. Closed sales decreased by 1.5% to 2,163. Inventory levels decreased 2.5% to 4,090 units.
Prices continued to gain traction. The median sales price increased 9% to $290,000. Days on Market was down 48.2% to 14 days. The months supply of inventory decreased 1% to 1.9 months.
You can view the July RapidStats Monthly Market Reports here:
RapidStats is the in-house reporting and market analytics tool offered by Markt. RapidStats started producing Metro MLS’s monthly market reports in June. The change gives members access to more accurate monthly data that better reflects the current market.