Chicago, Milwaukee and Cleveland lead the list of Zillow’s top real estate buyers’ markets, with homes in those metropolitan areas taking longer to sell and buyers receiving an average discount of 5 percent off asking prices.
Along with publishing a list of the top ten buyers’ markets, online real estate marketplace Zillow published a list of the top ten sellers’ markets, with San Jose, Calif., and San Francisco topping the list.
To rank the 50 largest metropolitan areas by negotiating power for sellers and buyers, Zillow analyzed its data for sale-to-list price ratio, number of days listed on Zillow, and percent of homes on the market with a price cut.
Zillow defined a buyers’ market as an area where buyers have more bargaining power, with listings lingering longer on the market and “sellers being forced to cut asking prices.”
Zillow Chief Economist Stan Humphries said it was “refreshing to see some markets swinging back in favor of sellers, with asking prices being met and listings spending fewer days on market.”
“The housing recession has been long and rocky, and we’re seeing more balance during this summer selling season,” Humphries said in a statement. “Of course, many markets are still firmly in favor of buyers, and we expect that to continue until the recovery takes more of a hold nationwide.”
• Sale-to-list price ratio: 0.9488
• Homes with price cuts: 39.7 percent
• Average days on Zillow: 161.5
• Zillow median home value: $165,800
Thank you for visiting. Please feel free to contact me for any of your real estate needs including an online market if you are a seller, or finding a home if you are a buyer. My real estate focus in the Waukesha County, Milwaukee County, Lake Country, Jefferson County, Dodge County and Washington County areas. I have my IRES designation (International Real Estate Specialist) so I can assist you with all your real estate needs in Wisconsin, the USA or anywhere in the WORLD!
When you are seriously looking or just browsing at real estate in Wisconsin, I am a great resource to help you with all your needs and questions, whether a first time home buyer, relocating to or from the beautiful LAKE COUNTRY area, looking to invest or explore foreclosure opportunities or just thinking ahead to the future.
The prospering communities of Waukesha County including Delafield, Waukesha, Oconomowoc, Pewaukee, Waukesha, Sussex, Wales, New Berlin, Dousman, North Prairie, Mukwonago, Chenequa, Menomonee Falls, Brookfield, Elm Grove, Okauchee, Eagle, Muskego and Merton.
Great municipalities in Milwaukee County including Milwaukee, South Milwaukee, Wauwatosa, Hales Corners, Greenfield, Glendale, Franklin, Bayside, Brown Deer, Cudahy, Fox Point, Greendale, Shorewood, Oak Creek, St. Francis, West Allis and Whitefish Bay.
The hometown favorites of Washington County, Jefferson County and Dodge County including Watertown, Hartford, West Bend, Germantown, Jackson, Richfield, Ashippun, Lake Mills, Jefferson, Johnson Creek, Slinger and Erin.
Real Estate in Wisconsin is an excellent investment!