Congratulations! Oak Creek is a great community! The numbers are a bit inconsistent, both median and average sales prices are down 1.3% and 1.5% respectively YTD. What's interesting is that for sale inventory is basically half of what it was a year ago, which will probably start to drive up the sale to list ratio and also median sold prices.
Man, I'm from New Berlin. My father was a detective at Wauwatosa PD. Mother lived in Franklin. I keep telling my significant other its time to move back. We live in southern California, that's where she is from. Median house here is 800k and that's for 2 bedrooms, 1400 square feet it's ridiculous. Oxnard, CA
@@1WriterGaming.Official makes sense, I hear that a lot. Family is next and clients who are visiting often tell me that people are so nice here, which never ceases to amaze me that they point it out, I guess you get used to it
Thinking moving to milwaukee i remember it used to be very cold 20 years ago . How is the weather there now in winter, how are the jobs are there a lot of jobs. Healthcare ,thanks.
Not what it used to be. We get less snow, it's mostly brown grass, but it can still get pretty cold when we get a blast of cold arctic air in Jan or Feb. Milwaukee has several large medical complexes and we have a very low unemployment rate - you can google it
Fair point. I was tempted to leave Bay View out, as it is technically not it's own municipality. But I try to make my videos for my audience and they will mention Bayview just like any other municipality they would consider, so now we got an orange in the apple cart. Riverwest comes to mind, but it is too small in volume to have accurate data. And then of course the downtown condo market..
I looked at Fox Point and we know it well, my wife used to teach there for almost 20 years. The sold to list ratio has steadily been declining over the last 12 months from about 104% to now 99%. Median sales price down 5.45% from 550k to 520k. But with only 65 houses sold this year, I am not sure if that data is representative. The median list price is up 24% so no wonder. But we only have 14 listings at the moment and a third of them is over 1.5M so you get a huge swing in these numbers. Fox Point is a VERY desirable area to live and a really good example why I exclude small markets - the data needs more "interpretation" beyond a simple number. Great question - thanks for asking!
Most people would not consider inflation, but of course real estate is a hard asset and as we are devaluation the dollar with inflation more dollars are needed to buy the same asset. Net of inflation the value increases are smaller. But inflation also decreases the real value of your mortgage debt. People used to take out a 30 year loan to pay of $20,000 in the 1960s...
Bay view is the new East Side so that makes sense. Schools are shit though. If you care about schools it’s whitefolks,,, I mean whitefish bay, Mequon, or Brookfield. But if you want great schools but still low taxes than Mequon is your best choice. If you don’t have school age kids than your ranking is 💯 on point
Thanks. Trying to be OnPoint, that's our team name after all. Funny story: we had our for-sale-sign installers put the sign in the wrong yard just across the street. My seller was a good sport, sent me a picture and changed our name to Off-Point 😂
I have heard that rumor too, but most SF are taxed around $3000 at a 200-250k property value. That does not seems in line with many of the other MKE County tax rates. Brown Deer for example is definitly higher. I own a property in WM since 2008 and always liked it. Not many sales, so list to sale ratio all over the map, but mostly over 100-105% - like West Allis. Currently only 2 listings thats it.
@@MrKuba1285 that is also MKE's issue, which is why we don't see much new construction inside the city. I hope that GrowingMKE will result in updates to the zoning code setting off a trend of new- and re-development.
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Great video real transparent and show how Milwaukee market is doing currently 👍
Thanks Alejandro, it's all in the data. If you have any particular questions, let me know. I also love debunking myths. With data :-)
I’m really surprised to not see Oak Creek on the list! I close on my house there on Monday :)
Congratulations! Oak Creek is a great community! The numbers are a bit inconsistent, both median and average sales prices are down 1.3% and 1.5% respectively YTD. What's interesting is that for sale inventory is basically half of what it was a year ago, which will probably start to drive up the sale to list ratio and also median sold prices.
Man, I'm from New Berlin. My father was a detective at Wauwatosa PD. Mother lived in Franklin. I keep telling my significant other its time to move back. We live in southern California, that's where she is from. Median house here is 800k and that's for 2 bedrooms, 1400 square feet it's ridiculous. Oxnard, CA
Well, the winters are nice in SoCal! But if and when you want to talk more about moving send me an email m.auerbach@kw.com
From Milwaukee born and raised. Moved to Houston 11 years ago. Making plans on moving back within the next month
@@1WriterGaming.Official what are your main reasons for moving back? Family, job or weather?
@@MarcusMKE Weather and Job
@@1WriterGaming.Official makes sense, I hear that a lot. Family is next and clients who are visiting often tell me that people are so nice here, which never ceases to amaze me that they point it out, I guess you get used to it
Thinking moving to milwaukee i remember it used to be very cold 20 years ago . How is the weather there now in winter, how are the jobs are there a lot of jobs. Healthcare ,thanks.
Not what it used to be. We get less snow, it's mostly brown grass, but it can still get pretty cold when we get a blast of cold arctic air in Jan or Feb. Milwaukee has several large medical complexes and we have a very low unemployment rate - you can google it
At the end you do apples and oranges to select Bay View. I suspect if you took each Milwaukee neighborhood, you would find others similar to Bay View.
Fair point. I was tempted to leave Bay View out, as it is technically not it's own municipality. But I try to make my videos for my audience and they will mention Bayview just like any other municipality they would consider, so now we got an orange in the apple cart. Riverwest comes to mind, but it is too small in volume to have accurate data. And then of course the downtown condo market..
Awesome video, as always. Do you have data on the east side neighborhood of Milwaukee?
Not for single family homes, there are only very few. Condo market is at 101.7% list to sale and prices are up 7.8%
How about Foxpoint?
I looked at Fox Point and we know it well, my wife used to teach there for almost 20 years. The sold to list ratio has steadily been declining over the last 12 months from about 104% to now 99%. Median sales price down 5.45% from 550k to 520k. But with only 65 houses sold this year, I am not sure if that data is representative. The median list price is up 24% so no wonder. But we only have 14 listings at the moment and a third of them is over 1.5M so you get a huge swing in these numbers. Fox Point is a VERY desirable area to live and a really good example why I exclude small markets - the data needs more "interpretation" beyond a simple number. Great question - thanks for asking!
Did you figure in inflation ? maybe we need to shave off a few % points in these numbers ?
Most people would not consider inflation, but of course real estate is a hard asset and as we are devaluation the dollar with inflation more dollars are needed to buy the same asset. Net of inflation the value increases are smaller. But inflation also decreases the real value of your mortgage debt. People used to take out a 30 year loan to pay of $20,000 in the 1960s...
What about New Berlin? I'm surprised about West Allis.
Bay view is the new East Side so that makes sense. Schools are shit though. If you care about schools it’s whitefolks,,, I mean whitefish bay, Mequon, or Brookfield. But if you want great schools but still low taxes than Mequon is your best choice. If you don’t have school age kids than your ranking is 💯 on point
Thanks. Trying to be OnPoint, that's our team name after all. Funny story: we had our for-sale-sign installers put the sign in the wrong yard just across the street. My seller was a good sport, sent me a picture and changed our name to Off-Point 😂
How is West Milwaukee doing? I heard that the village has the highest property taxes in Milwaukee County.
I have heard that rumor too, but most SF are taxed around $3000 at a 200-250k property value. That does not seems in line with many of the other MKE County tax rates. Brown Deer for example is definitly higher. I own a property in WM since 2008 and always liked it. Not many sales, so list to sale ratio all over the map, but mostly over 100-105% - like West Allis. Currently only 2 listings thats it.
@MarcusMKE the problem with WM, BD, and SF is that they can't expand their city or village limits by annexation, which not much land to develop.
@@MrKuba1285 that is also MKE's issue, which is why we don't see much new construction inside the city. I hope that GrowingMKE will result in updates to the zoning code setting off a trend of new- and re-development.
@MarcusMKE I am also excited about it. Very ambitious of the city looking forward.
How about Okauchee and Oconomowoc?
Oconomowoc is very hot, I don't think that surprises anyone. List to sale price is 102.6% and median sales price is up by 12.6%.