Waukesha Residential Market Update
The holiday season is officially upon us. The weather is cooling off, the leaves are turning colors and there are pumpkin patches springing up everywhere. With the festive holiday decorations, the cool weather, and the pumpkin spiced lattes, this time of year gets consumers in the home buying spirit. Nothing shouts “home for the holidays” more than owning your own home. So, if you are thinking about purchasing a home this fall, now would be an excellent time to buy.
To help you get started on the home buying process, your local mortgage lender in Waukesha, WI, Kim Greenspan with First Fidelity Home Mortgage, has provided the most current residential market update for this region.
Waukesha Market Update
The housing statistics on realtor.com shows that the median listing price in the Waukesha region has been fluctuating over the past three years. In October 2015, the median price was listed at $224,900 and increased 6.7% to $239,900 the following year. By October 2017, the median listing price remained the same as the 2016 price of $239,900, but by 2018 the price had jumped up approximately 8.0% to $259,000. This current rise in price over the past two years and a 15.2% increase since 2015, suggests that the listing prices are going to continue to increase in the near future. The current 2018 median price per square foot is $140 and the current median sold price is $235,800.
This shows that if you are considering purchasing a home now and need to apply for a mortgage in Waukesha, it may be in your best interest financially to speak with a local lender and lock in a rate now.
For more information on the current residential market update or if you are interested in learning about current mortgage rates in Waukesha, please contact Kim Greenspan with First Fidelity Home Mortgage at 262-650-9890.