Tuesday, June 23, 2015

Today's Real Estate Market in West Bend, Wisconsin

As of now (11:15am on Tuesday June 23, 2015) MetroMLS reports 183 active single family listings in West Bend, Wisconsin. And, MetroMLS also reports that 186 single family homes in West Bend sold during the last 6 months. What does that mean? It means that the market is relatively balanced right now, with the number of buyers and sellers equally matched. Months of inventory, defined as the number of months it would take to sell all currently available inventory if no no new listings came to the market, is just under 6 months. This is a "normal" market.

I like to run these kinds of statistics because it provides great insight into what is going on in the real estate market right now and because it allows early detection of a trend in home sales. As a REALTOR, I love data. Why? Becasue you can't argue with raw data. It can be mis-interpreted, but raw data is undeniable truth.

While national and regional press are reporting that homes sales are up, both in number and price, real estate is a hyper-local market. Your real estate professional should be doing this research in your neighborhood and your price range so they can share the conditions in your market.