120
# OF NEW LISTINGS YTD (121 LY)
88
# OF NEW LISTINGS YTD (53 LY)
$329,900
MEDIAN SALE PRICE YTD ($286,000 LY)
$515,000
MEDIAN SALE PRICE YTD ($475,000 LY)
146
# OF NEW LISTINGS YTD (125 LY)
294
# OF NEW LISTINGS YTD (329 LY)
$566,500
MEDIAN SALE PRICE YTD ($528,450 LY)
$486,500
MEDIAN SALE PRICE YTD ($437,900 LY)
1,185
# OF NEW LISTINGS YTD (1,183 LY)
191
# OF NEW LISTINGS YTD (176 LY)
$469,950
MEDIAN SALE PRICE YTD ($440,000 LY)
15
MEDIAN DAYS ON MARKET YTD (23 LY)
5
MEDIAN DAYS ON MARKET YTD (6 LY)
11
MEDIAN DAYS ON MARKET YTD (4 LY)
22
MEDIAN DAYS ON MARKET YTD (17 LY)
8
MEDIAN DAYS ON MARKET YTD (6 LY)
$365,000
MEDIAN SALE PRICE YTD ($340,500 LY)
4
SALE TO LIST RATIO YTD 104.3%
SALE TO LIST RATIO YTD 101.2%
SALE TO LIST RATIO YTD 101.5%
SALE TO LIST RATIO YTD 103%
SALE TO LIST RATIO YTD
106.5%
SALE TO LIST RATIO YTD
MEDIAN DAYS ON MARKET YTD (4 LY) 100%
WHAT IS AN ABSORPTION RATE? Absorption rates measure how quickly or slowly homes are sold in a specific market and time frame It?s important for sellers,buyers, and realtors to calculate the absorption rate as it?s used to read market conditions The higher the absorption rate,the faster homes are selling since there?s more demand from buyers than available properties Source:mansionglobal.com/ library/absorption-rate
After watching mortgage rates hit two-decade highs and inventory plummet last year,many hopeful homebuyers are eager to get off the sidelines and into a home
While 2024 is expected to be a better year for the housing market in many respects,a lot of buyers are still going to struggle to find affordability If you're planning to buy a house this year,here's what you need to know about housing market predictions in 2024,and how you can prepare
Experts generally expect home prices to increase throughout 2024
- Fannie Mae currently sees home prices rising 4.8% year over year by the end of 2024
- The Mortgage Bankers Association believes prices could rise as much as 4 1% this year
- The National Association of Realtors has more conservative expectations and thinks existing-home prices will inch up just under 2% overall by the end of 2024.
Low home inventory is a chronic problem in the US This has generally kept home prices up,even as mortgage rates peaked near 8% and homebuying demand plummeted last year.Demand may increase this year as rates go down in the second half of 2024,so even if home prices were to drop in 2024,they likely wouldn't fall enough to significantly improve affordability on their own
Though they're still relatively high, experts predict we'll see mortgage rates go down in 2024 The average 30-year fixed mortgage rate is generally expected to end up in the mid-to-low 6% range by the end of the year.
- Both Fannie Mae and MBA believe 30-year fixed rates could inch down in the second half of the year and reach 6.4% by the end of 2024
- NARpredicts rates will peak this quarter at 71% and drop to 6 5% in the last quarter of the year
Whether mortgage rates actually trend down in 2024, and by how much, depends in part on the path the Federal Reserve takes in its fight against inflation
The Fed has indicated that it may start cutting the federal funds rate this year,which would remove a lot of upward pressure off of mortgage rates and allow them to fall more substantially But inflation has remained higher than expected in recent months,so we might have to wait until the fall for a Fed rate cut This means mortgage rates will likely remain elevated in the near term.
Because home prices have increased so dramatically in recent years,doomsayers believe that the housing market is in a bubble,and it's only a matter of time before it bursts and the market crashes But it's actually pretty unlikely that will happen
One of the main reasons we're unlikely to see the housing market crash in 2024 has to do with housing inventory The US simply does not have enough homes to meet demand,which is keeping prices steady Of course,no one has a crystal ball. If demand were to plummet,home prices could start falling.A severe recession could cause this to happen,for example But even with a recession, it's not a given that the housing market would crash as a result
The fact is,it's hard to predict a housing market crash. Right now,the conditions aren't right for one ? even though demand is low,supply remains even lower And demand is expected to improve this year, while supply will likely remain a chronic problem for years to come
If rates drop later this year, it will undoubtedly improve affordability for borrowers, but with that will come increased demand This will keep home prices high and likely push them up even further Finding a home in your price range may become even trickier,and you may need to make a lot of offers on homes before you get one accepted.
1 Get your finances ready Because home prices are likely to remain high and mortgage rates may not come down until later this year or next year, you'll want to make sure you get the lowest rate you can One of the faster methods to get your credit score up is to lower your credit utilization This will also decrease your debt-to-income ratio,which is another factor mortgage lenders look at when considering what rate to give you
2 Look for affordable mort gages and ot her first-t ime homebuyer assist ance The key to affording homeownership for many buyers in 2024 will be utilizing mortgages geared toward first-time homebuyers and combining them with grants or other forms of down payment assistance
3 Time your purchase right There probably won't be a single "best time" to buy in 2024,because that depends on each buyer's priorities ? so it's important that you figure out yours If getting the lowest rate possible is most important to you,you'll want to wait until later this year to buy, or possibly even wait until 2025 Buying in the spring or summer will give you more inventory to choose from,but you'll also likely be up against greater competition since it's the peak buying season
4 But don't rush "If rates do start to moderate and the market does seem to become more favorable to buying in 2024, it will likely stay this way for a while," Russell says "If that's the case,I encourage you to take your time! Don't put pressure on yourself to make any potentially hasty decisions on what may be your biggest asset and the largest financial decision of your life " Though it's still a while away, forecasts generally expect mortgage rates to fall throughout 2025 If you don't feel ready to buy this year,there's nothing wrong with waiting a bit to continue saving and working on your credit.
5 Build your savings When you buy a house,you'll need enough cash to cover both your down payment and closing costs,which can amount to between 3% and 6% of the loan amount.While many mortgage programs allow low down payments,the more you can put down,the better your interest rate will likely be Plus,offers with larger down payments are often more attractive to home sellers,giving you a competitive edge in what will likely be a tough market.
Refined and peaceful,Milwaukee?s
Upper East Side is a charming place to call home Lined with towering trees and Edwardian and Tudor-style properties,this compact neighborhood is nestled near several important spots Residents live steps from the University of Wisconsin - Milwaukee campus, Lake Park,casual eateries,and Riverside Park
What to love?
- Tranquil residential community
- Historic architecture
- University of Wisconsin - Milwaukee
- Lake Park
- High-end Lake Drive
Local Lifestyle
Overflowing with historical significance and beauty,the Upper East Side is a highly-coveted neighborhood A great place for students,families,and working professionals,this community is idyllic.
Dining, Entertainment & Shopping
Oakland Avenue is the site of many of the Upper East Side?s favorite restaurants Along this road,you can enjoy your go-to menu items from local favorites Craving a Chicken Bacon Cheddar Sub,a Steak Philly,or a classic Club Sub? Cousins Subs is always steps from home Another beloved establishment on this same road is Oakland Gyros Shawarma House, Sal's Pizza East Side,and Lisa's Pizzeria are several other not-to-miss restaurants.
Several blocks outside of the Upper East Side neighborhood,you?ll discover some of Milwaukee?s most iconic dining establishments Downer Avenue is home to hotspots such as Café Hollander,and Canela Cafe.This same street features locally-owned shops such as Nehring?s Sendik's on Downer,Boswell Book Company, Downer True Value Hardware, Downer Wine & Spirits,and Rohr Jewelers
CELEBRATE MOM WITH SOME OF THE BEST BRUNCH SPOTS IN MILWAUKEE
AVLI
1818 N Hubbard St | Reservations required
LEBNANI HOUSE
5051S 27th St | Reservations strongly encouraged
ONESTO
221N Broadway | Reservations can be made online
THE PFISTER HOTEL
424 E Wisconsin Ave | Reservations are required
SANFORD
1547 N Jackson St | Heat-and-eat brunch to go
4195 N Oakland Ave | Reservations can be made online
LUPI & IRIS
777 N Van Buren St | Reservations can be made online
THE ORIGINAL
2498 N Bartlett Ave | Reservations can be made online
SAFFRON MODERN INDIAN DINING
223 N Water St | Reservations can be made online
TESS
2499 N Bartlett Ave | Reservations strongly recommended
Source:onmilwaukee com/articles/ local-spots-for-mothers-day-brunch
dining week returns May 30th through June 6th It?s one of the most talked-about events of the
Potawatomi Casino Hotel?s Sportsbook and Poker Room are now open to the public,marking the latest in a series of major investments in the Menomonee Valley property
?This is a 33-year venture that comes from a small bingo hall and now here we are, continuing to build for the future Along the way,we?re bringing some epic and awesome assets to our guests,?Potawatomi Casino Hotel CEOand General Manager Dominic Ortiz said.
The Potawatomi Sportsbook has more than 20 kiosks ? there are now 70-plus kiosks on the property ? and 10 ticket writers There?s also a restaurant called The Kitchen at the Sportsbook that features a full food and drink menu,seating for more than 200 patrons,a VIPlevel, state-of-the art broadcast booth and the largest LED screen in the Midwest at more than 2,000 square feet
The Las Vegas-style sportsbook is housed in the former Northern Lights Theater,a 500-seat concert venue that closed in January 2023 after 23 years in operation. The two-floor, 6,500-square-foot venue creates a permanent spot for Potawatomi?s sports betting operation
The Poker Room has 14 tables with nine spots and a skilled dealer at each The custom-designed room is 4,400 square feet,fitted with the state-of-the-art lighting and chairs with extra cushion The room is open from 8 a m to 4 a.m.daily.Players can join wait lists for tables and view available games by logging on to the Bravo Poker Live app
?Potawatomi Casino Hotel is already the number one travel destination in the state,and we believe that the Sportsbook and Poker Room will become an attraction to those who live well beyond the state line,bringing in more tourism revenue to the state of Wisconsin,?Forest County Potawatomi Community Tribal Council Chairman James Crawford said
The marks the final milestone in the casino?s $190 million renovation of its first- and second-floor gaming and dining facilities,which includes Rock & Brews,the restaurant/music brainchild of legendary musicians Paul Stanley and Gene Simmons from the rock band KISS,which opened last September.
Source:milwaukeemagcom/potawatomi-casino-hotel-new-sportsbook-now-open/
What?s better than Taco Tuesday? Taco Fest,of course And ? OnMilwaukee and Milwaukee World Festival Inc are once again serving up a spec-taco-lar event on Milwaukee?s beautiful lakefront in 2024 This year's event will be presented by Good Foods,purveyor of guacamole,avocado mash,dips and more
The 10th Annual Taco Fest Presented by Good Foods will take place on Saturday,Sept 14 at Henry Maier Festival Park and will feature entertainment,games, margaritas and plenty of tacos (of course!)
This year?s festival will feature new amenities including:
- Free samples for all attendees from Good Foods! As a Wisconsin-based company,Good Foods is proud to support community events in their backyard,including Taco Fest and Summerfest!
- Fans can purchase official Taco Fest merch while supplies last!
As usual,there will also be high flying entertainment from the pro-wrestlers of Mondo Lucha! Live; an irresistible chihuahua beauty pageant; and plenty of amazing games from our friends at Bars & Rec; and Cactus Ring Toss at the David Gruber Law Offices tent
Guests will have the honor of selecting the annual Taco Fest Champion by voting for their favorite tacos!
TACO VENDORS SCHEDULED TO PARTICIPATE* INCLUDE:
- Chuchos Red Tacos
- El Poblanito Gourmet Tacos
- Lovely & Tasty Walking Tacos
- Pigtailz
- Romero's Taco Truck
- Tacos Cafe Maya
- Tacos La Vecindad
- Taqueria Orenda
- Toro Tacos & Bowls
*final list of vendors is subject to change
FORMOREDETAILS,PLEASEVISIT: onmilwaukee com/articles/ taco-fest
MAY 6, 20 24 | KEEPING CURRENT MATTERS
Thinking about selling your house? As you make your decision, consider what's pushing you to think about moving A recent survey from Realtor com looked into why people want to sell their homes this year
Here are the top two reasons (see graphic below):
If you?re thinking about selling your house, you probably have a lot of questions on your mind.Well,here's some good news ? the latest data shows most sellers get a great return on their investment when they sell.ATTOM,a property data provider, explains:
? home sellers made a $121,000 profit on the typical sale in 2023,generating a 56.5 percent return on investment ?
That?s significant.And here?s one contributing factor During the pandemic, home prices skyrocketed There was way more buyer demand than homes available for sale and that combination pushed prices up
Now,home prices are still rising,just not as fast. That ongoing appreciation is good news for your bottom line Any profit you make can help offset some of today?s affordability challenges when you buy your next home
If you want to know how much your house is worth now and what's going on with prices in your area,talk to a local real estate agent
Maybe you want to be near relatives to help take care of older family members or to have more support nearby.Or maybe you?re just eager to spend time together on special occasions like birthdays and holidays
Selling a house and moving closer to the people who matter the most to you helps keep you connected If the distance is making you miss out on some big milestones in their lives,it might be time to talk to a local real estate agent to find a place close by The National Association of Realtors (NAR) says:
?A great real estate agent will guide you through the home search with an unbiased eye,helping you meet your buying objectives while staying within your budget ?
Source:mykcm com/shareable-content/ blog/ whats-motivating-your-move
GLOBAL REAL ESTATE ADVISOR
- Seller Representation - Buyer Representation - Condominium,Townhome, Single-Family,Multi-Unit, and Investmant Properties
Sotheby?s International Realty is the only truly global luxury real estate company with 26,500 advisors working in more than 1,100 local offices across 81countries and territories Our unparalleled network works together to meet your needs and expectations
