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Realty Estate Sales Remain Low in Milwaukee Area --- Could be Concern for Paying off Shorewood TIF's

Posted by David Tatarowicz on May 19, 2008

CDA, Residential, Taxes, TIF

According to the Greater Milwaukee Realtor Association, of which I am a member ---- sales in April in the Milwaukee Area were still down: 

If this trend continues, it could affect the repayment of the TIF's the back the spending by the Village on various projects, as the cost of repayment could be spread to all property owners if the TIF properties do not appreciate in value. 

 County-by-county analysis

  • Milwaukee County: 646 units were sold in April; down -21.1% compared to 819 units sold in April 2007, and down -35.3% vs. 2006’s 998. 2,194 properties were listed in April compared to 2,373 in 2007 (-7.5%) and 2,070 in 2006 (6.0% increase). There are 420 pending sales in the county.
  • Waukesha County: 339 units were sold in April; down -20.4% compared to the 426 units sold in April 2007, and down -26.6% vs. 2006’s 463. 947 properties were listed in April compared to 1,030 in 2007 (-8.1%) and 1,038 in 2006 (-8.8%). There are 198 pending sales in Waukesha County.
  • Ozaukee County: 65 units were sold in April; down -20.7% compared to the 82 units sold in April 2007, and down -34.3% vs. 2006’s 99. 193 properties were listed in April compared to 248 in 2007 (-22.2%) and 184 in 2006 (4.9% increase). There are currently 48 pending sales in the county.
  • Washington County: 113 units were sold in April; down -31.9% compared to the 166 units sold in April 2007, and down -23.6% vs. 2006’s 148. 327 properties were listed in April compared to 363 in 2007 (-9.9%) and 273 in 2006 (19.8% increase). Washington County has 58 pending sales.
  • Racine County: 166 units were sold in April; down -23.5% compared to the 217 units sold in April 2007, and down -28.1% vs. 2006’s 231. 468 properties were listed in April compared to 499 in 2007 (-6.2%) and 502 in 2006 (-6.8%). There are 131 pending sales in the county.
  • Kenosha County: 144 units were sold in April; down -16.3% compared to the 172 units sold in April 2007, and down -32.1% vs. 2006’s 212. 475 properties were listed in April compared to 562 in 2007 (-15.5%) and 523 in 2006 (-9.2%). Kenosha County has 101 pending sales.
  • Walworth County: 75 units were sold in April; down -34.2% compared to the 114 units sold in April 2007, and down -48.6% vs. 2006’s 146. 430 properties were listed in April compared to 376 in 2007 (14.4% increase) and 355 in 2006 (21.1% increase). There are 44 pending sales in Walworth County.

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