“Things are selling:” Milwaukee experiencing real estate boom, especially condo sales

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MILWAUKEE -- Milwaukee is experiencing a bit of a real estate boom -- not when it comes to the number of homes being built, but when it comes to existing homes being purchased.

Condos in Milwaukee

Even in February, realtors said Milwaukee's million dollar views were selling fast.

A two bedroom, two bathroom condo at 106 West Seeboth was the latest listing in Milwaukee's downtown home market.

"This is one of the custom units. There is no other condo like this," Dana Karow said.

Condos in Milwaukee

Karow was showing off the space on Seeboth on Sunday, February 28th during an open house. She said traditionally, end of winter sales are sluggish. But Milwaukee's downtown neighborhoods are becoming "quick markets."

"Buyers are out in full force. The interest rates are extremely low still," Karow said. "I will tell you, what you are going to need to do is number one make sure you are pre-approved and ready to buy."

Karow says during summer 2015, condos would stay on the market four months before closing.

Condos in Milwaukee

However, by the end of 2015, resale homes were closing in 30 days or less.

"Make sure you're ready to make an offer, because when you walk into a condo and you fall in love with it and it's going to be your new home -- don't sit around because it's going to be gone," Karow said.

Condos in Milwaukee

The Greater Milwaukee Association of Realtors reports home sales in Milwaukee were up nearly 14 percent from this time in 2015. Officials report big gains in Waukesha, Washington and Ozaukee counties as well.

"Things are selling and moving," Karow said.

Condos in Milwaukee

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1 Comment

  • Milwaukee-needs-more-apartments-not-condos

    Condos are the biggest waste of money and a really dumb realestate investment. It’s like “Buying” an apartment then being stuck there for 30 years (or however your mortgage is) because you can’t just “Up and move” if your neighbors suck. How dumb. Milwaukee needs more DECENT apartments for us hard-working middle class workers! There are lots of low-end slum apartments around Milwaukee and if you go out to the suburbs there are lots of very high end places with starting rent over $1200 a month! Where are the middle-class priced apartments? That is what this city really needs!

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