It seem like time is speeding up sometime. As our year continues into April with May around the corner what happen to February and March. Buyers have been taking advantage of the market and interests but are soon to see changes. April 2014 GMAR reports that 1st quarter Home sales are down 10.2% from a year earlier, compared to 2013 in the 4-county Metropolitan Milwaukee real estate market. The slowdown for the first three-months of the year is being blamed on an exceptionally cold winter. While sale were down prices went up as inventor continues to stay low. Multiple offers are not uncommon with new listing especial if they are exceptions. In some areas, communities and price ranges properties with accepted offers and pending out number current listings. Sellers should not assume they will get whatever they ask for, and buyers should know the days of deep discounts are gone. When selling or purchasing, seeking a good full service Realtor will benefit both sides of the transition. Rising interest rates, warmer weather and the still strong demand for properties with number of buyer still in the pipe line should continue to make 2014 a very strong year. Price ranges will effect purchases as the strongest percentage of buyer is are 1st time or under 30+ buyers. The condo market has made its comeback as well with a need for condo listings downtown. Don’t be surprised to see some new condos either as conversions or new construction hit the market. I don’t think you will see the big large scale projects but smaller building or conversion sites. I am always available to discuss your change of address plans or evaluate the market for a property sale or purchase. Visit me www.move2milwaukee.com or call/text me 414-379-1101
by Bob