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Milwaukee-area real estate market humming with home sales up 24%

Posted at 7:52 PM, Dec 11, 2020
and last updated 2020-12-11 20:52:06-05

MILWAUKEE — The real estate market continues to thrive in the Milwaukee metro area, despite the COVID-19 pandemic and the usual decline of the housing market in the colder months, a report finds.

According to an analysis from the Greater Milwaukee Association of Realtors Friday, real estate sales are up 24.1 percent in November across the four-county area, and a further 25.6 percent in southeastern Wisconsin. The four-county area consists of Milwaukee, Waukesha, Washington and Ozaukee counties.

The association found that the market has in fact been humming along since July of 2019, with the 'Safer at Home' order enacted last spring to halt the pandemic acting as a "speedbump" to that growth.

The market remains a seller's market, the report finds, with listings up 4.9 percent in November - the fourth month in a row of increased listings.

But GMAR concludes that listings are "lackluster" overall, finding that the Milwaukee metro is in "dire" need of more. The association says that's possible with available units doubling this November.

The Greater Milwaukee Association of Realtors represents about 4,000 people working in the real estate business in the Milwaukee area.

Read their report below:

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