As COVID-19’s impact spread across the country in March, Milwaukee area inventory levels rose 26.1 percent to 3,747 units. However, prices continued to gain traction. The Median Sales Price increased 13.0 percent to $244,950. Days on Market was down 10.6 percent to 42 days. Buyers felt empowered as Months Supply of Inventory was up 31.6 percent to 2.5 months.
Year to date comparison of sales in 2020 to sales in 2019 and 2018 are trending positive, more than 200 million more in total sales have closed, compared to this time in the past two years. We are also seeing more transactions year to date now than compared to last year.