What is going to happen to Milwaukee Home prices?

[Marcus Auerbach]

Here are my thoughts on the topic: 

[Carlos Ptriawan]

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.

[Timothy Howdeshell]

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? 

[Marcus Auerbach]

Quote from @Timothy Howdeshell:

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? 

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.

[Timothy Howdeshell]

Quote from @Marcus Auerbach:

Quote from @Timothy Howdeshell:

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? 

Okay that makes a lot of sense! Thank you so much for the detailed explanation. 

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.

[Carlos Ptriawan]

Quote from @Marcus Auerbach:

Quote from @Timothy Howdeshell:

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? 

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.

 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.

[Marcus Auerbach]

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?