What is going to happen to Milwaukee Home prices?

Question

Here are my thoughts on the topic:

Marcus Auerbach · Answer

I would say probably historic reasons. Milwaukee got hit hard in the 70s and 80s when manufacturing jobs moved overseas, it took 50 years to recover and that has been going so quietly in the backgound that nobody took notice. Madison was always more of a college town, so it was not impacted the same way.

And MKE has a wide variety of neighborhoods with very different ptice ranges, look up Whitefish Bay or Wauwatosa, they are expensive. Milwaukee County has 19 diffent municipalities, Milwaukee propper is only one of them. And then you have the suburbs. But you are right, Madison is priced quite a bit higher and has tiny bit of a west coast feel mixed into it's Midwest flavor. That gap will probably shrink.

Marcus Auerbach · Answer

Just got the fresh MLS data for May 2024 for the Milwaukee metro area:

- median price for the metro area is now 341k, up 8.1% YTD- we have a chronic rental shortage, rents are up 4.6%- inventory is up a whopping 57% from last year

Take inventory with a grain of salt, because we had almost nothing last year, so 57% more is still not much. We are still about half compared to pre-covid levels. More on YouTube.

Marcus Auerbach · Answer

Thanks @Carlos Ptriawan

Looks like the link does not display correctly; but I did not get a message from admin, so here it is again for reference.

However, you can always look it up on YouTube/@MarcusMKE and this one is called: Where are Milwaukee Home Prices going?

Timothy Howdeshell · Answer

I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity?

Jalen Greenlee · Answer

Valuable info Marcus! Thanks

Carlos Ptriawan · Answer

Just want to say I am very impressed with your knowledge on your market , not just from residential but also your view from business and economy standpoint.

Carlos Ptriawan · Answer

Milwaukee with average home price of $200k, negative growth of new home supply and inventory of 1 month supply just means ----> going up and up.

What is going to happen to Milwaukee Home prices?

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