Welcome to the Roaring 20’s – The HOT Spring Market has Started!
Welcome to the Roaring 20's – The HOT Spring Market has Started!
The best time to list your Milwaukee-area home has traditionally been right around January 1 through March 17; miss that window and your sale price may suffer. Why? In January there is lower housing inventory and higher demand, following the holidays. Wait till March, and there is more supply and buyers have more choices. Anxious RELOCATION buyers are plentiful in January because many of Milwaukee's Corporate Relocations happen around the first of the year.
The Milwaukee residential real estate market is VERY seasonal, and there is so much conflicting information available to Sellers on when to list their home. Being strategic about when to put your home on the market can make a difference in both how long your home is for sale and the sale price. Making a prediction on “when” to list your home is probably the most important decision of successfully selling your home.
Sellers who list their home in May are generally too late to the market. Because reports of the spring market begin to flood the news media right about May, Sellers think this is a good time to list. However, keep in mind, that reports at this time of the year are generally reporting sold closed business from offers written and accepted in February and March. Historically, summer in Milwaukee is SLOW for selling real estate. Buyers are traveling and entertaining more , and this year, many people will be renting their homes to those visiting Milwaukee for the Democratic National Convention. Sellers can be very frustrated during these summer months as a result of a slowing market and often pull their house OFF the market at the end of September or October, missing the second best time of the year to list your home.
So why is the Milwaukee Market Seasonal? It is all about RELOCATION! Corporate budgets are being determined in the 4th Quarter and new hires to Milwaukee increase as a result in November, December, January and February.
So, here’s a helpful Seller’s Tip: The market is not happening when the homes are closing. The market is happening when the OFFERS ARE WRITTEN! Who knows when the offers are being written? Your REALTOR@. Reports of a robust July are the closed sold offers written in May and closing in July. Reported housing data lags about three months behind the actual market. So the glowing housing reports in April are the offers written in January! This is very important for sellers and new REALTORS@ to understand. There is so much confusion about timing. Setting the record straight for Sellers leads to higher success rates for all of us.
What is the formula for selling your home in 2020?
Sellers are wise to list their Milwaukee-area home as early as possible and before March 17 to realize their best price for the Spring Market.
The Fall Market begins September 15 and can be very good for Sellers who missed the Spring Market of 2020, if inventory is low. The Fall Market mellows with better sales as we slip into the holiday season and this was radically true for December sales of 2019! Fight the instinct to pull your house OFF the market.
Remember: It is a numbers’ game. If there are 130 listings in Whitefish Bay in May and historically there have been 80 in October, October may be a better market for Sellers. Ask your REALTOR@ about supply and demand historical data in your area to gauge your timing.
Don’t be afraid to expire your listing and come out with a new MLS number at any time. Refreshing your listing can make sense if you are not getting results.
Predicting the Real Estate Market is tough in Milwaukee. Your Real Estate sale is highly dependent on the local economy and inventory rates. The economic health of Johnson Controls, Northwestern Mutual, GE Healthcare, Direct Supply, the Medical College of Wisconsin and other large employers will have a tremendous impact on seller’s ability to sell the homes here in Milwaukee. Forecasting the spring market? Look to Rockwell. What is happening with the hiring process in their fourth quarter? How about Northwestern Mutual? That is how you and your REALTOR@ predict the spring market of 2020. Happy Selling, Milwaukee!
Suzanne Powers is a licensed Wisconsin Broker, the Owner Powers Realty Group, and ranks #1 in the State of Wisconsin as the Top Sales Agent. Suzanne lists and sells homes and consults on all real estate matters for SE Wisconsin Real Estate. Set up a Consultation with Suzanne @ 414-870-7175 or Suzanne@powersrealty.com.
Powers Realty Group is a distinctive boutique real estate broker focused on the needs of customers delivering exceptional results. We are the trusted local experts. Call us today about buying or selling your home.Call Suzanne Powers