Thursday, October 08, 2009

Current Listings in Downtown Milwaukee!

Western Leather Lofts #321- $90,000

Step back in time in this century-old warehouse located one block away from Historic Brady Street’s boutiques and fine restaurants. Surrounded by residential homes, this five-story Cream-City Brick warehouse features concrete-heated floors (dues include heat), post construction, and soaring windows and ceilings. Kitchen features solid-surface countertops, Grohe kitchen faucet, custom birch cabinets, and under-cabinet lighting. After a long day, relax and unwind in the jetted tub as your towel warms up on the heated towel rack. Other amenities include: Central air, central vacuum, recreation room, and common laundry (never step outside to wash your clothes, etc.). Western Leather Lofts is a pet-friendly condominium association. Seller is offering a HSA Home Warranty at closing - Free! Click here to read more about this warehouse-style studio>>>


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New Price! Lofts On Broadway #407 - $215,000

Live in the heart of the Historic Third Ward! Cream-City brick, exposed wood-beamed ceilings, maple hardwood floors, and oversized windows complete the package. Entertain guests in the open-concept floor plan and balcony. Kitchen boasts stainless-steel appliances. Both bathrooms feature ceramic tile and vanities with vessel sinks. Other amenities include full-size side-by-side washer and dryer, spacious storage locker, and central air. Wake up to the morning sun with views of the Historic Third Ward. Lake Michigan, Milwaukee River, Milwaukee Public Market, restaurants, nightlife, theaters, art galleries, and boutiques are all located just outside of your front door. There are several parking options available to rent within a block of this loft. For more information on where to park, check out http://www.historicthirdward.org/parkinginformation.php. Lofts On Broadway is a pet-friendly condominium association. Click here to read more about this Third Ward loft>>>


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New Listing! Park Terrace Row Houses - $235,000

Welcome home to Vetter Denk’s Park Terrace! This three-story townhome offers a private entrance, private attached garage, and two French balconies. The elevated first floor features an open-concept floor plan with Great Room and Kitchen. The Great Room boasts Brazilian Cherry hardwood floors and concrete walls. The chef will appreciate the stainless-steel appliances, under-mounted stainless-steel sink, gas range, and spacious breakfast bar. Second floor features two bedrooms and two-full bathrooms. Tile floors, tile tub surround, and Kohler fixtures complete the bathrooms. Spread out in the master bathroom that features a double vanity. Enjoy the views of the Beerline neighborhood from the French balcony of the top-floor den. Park Terrace is a pet-friendly condominium association. Click here to read more about this townhome-style condo>>>


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Riverbridge #304 - $250,000

Located on the banks of the Milwaukee River you will enjoy the peace and quiet that comes with the Riverbridge lifestyle. Stroll along the Riverwalk or shop at nearby Historic Brady Street. Surround yourself in sunlight and enjoy the river views from the sunroom, great room, both bedrooms, and balcony. Entertain guests in the great room that features maple hardwood floors. The chef will appreciate the stainless steel appliances, gas range, under-mounted stainless steel sink and convenient pull-out cabinet drawers. Grill on the balcony that features a gas line (never replace another propane tank). Need space to get ready in the morning? Spread out in the master bathroom that features a double vanity. Relax and unwind in the whirlpool tub. Riverbridge is a pet-friendly condominium association. Click here to read more about this riverfront condo>>>


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Wisconsin Tower #702 - #269,900

Welcome home to Wisconsin Tower! At nearly 2,000 square feet, you’ll appreciate the open-concept floor plan and spacious rooms. Notice the fine details of this condo: Custom-built cabinets, millwork, wood panels, built-in bookcases, and custom shelves. French doors offer privacy. Maple hardwood floors are found in nearly every room. The gourmet chef will appreciate the granite countertops, under-mounted stainless-steel sink, stainless-steel appliances, abundant counter space and spacious breakfast bar. The best part…the views! This unit occupies half of the floor - so, you’ll enjoy skyline views to the east, north, and west as well as the garden rooftop terrace. Wisconsin Tower offers many amenities and services for its owners including private party room, fitness room, rooftop garden terrace, courtyard, barbeque area, dog walk, and guest suites. Wisconsin Tower is a pet-friendly condominium association. This property includes a preferred financing package with a below market interest rate and lower monthly payments. Click here to read more about this spacious condominium unit located in a beautifully preserved art deco building>>>


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Cityside Plaza - New Warehouse Loft Conversion in the Historic Third Ward - Condos Start at $244,900

Cityside Plaza is a brand new condominium association offering luxury living in the heart of the Historic Third Ward. Several unique floor plans are available offering a combination of one bedroom with one bathroom, two bedrooms with two-full bathrooms, and two bedrooms plus den with two-full bathrooms and one-half bathroom. Kitchen boasts granite countertops, GE stainless-steel appliances, Grohe faucets, Oliveri stainless-steel sink, and your choice of satin nickel or stainless-steel hardware. Bathrooms feature Kohler sink, soaking tub, and toilet, natural stone flooring, and ceramic tile shower surround. You will find oak hardwood floors not only in the main living areas of our condo units, but you will also find hardwood floors in the bedrooms. All units feature in-unit laundry hook-ups and at least one indoor parking space. Most units feature a balcony. Cityside Plaza is a pet-friendly condominium association. Click here to read more about this brand new warehouse association in the Historic Third Ward>>>


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For more information about Western Leather Lofts, Park Terrace Row Houses, Riverbridge, Lofts On Broadway, Wisconsin Tower, Cityside Plaza, and other downtown-area condominiums, please contact me at (414) 412-7980 or e-mail at dray@shorewest.com.


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posted by David Ray @ 2:13 PM 0 comments

Tuesday, October 06, 2009

Downtown Milwaukee Condo Market Update: October 1, 2008 - October 1, 2009

Around the first of the month, I review raw data from Metro Multiple Listing Service (MLS) that serves southeastern Wisconsin. I analyze data that covers a 12-month period that ends at the first of the current month which enables me to see how housing prices change from month-to-month.

My monthly analysis focuses on only those condos that have sold during the past 12 months. The sale price or fair market value provides the best information for determining market changes.

My monthly analysis specifically addresses the Sale-Price-Per-Square-Foot. By reviewing the price-per-square-foot, I am able to compare condos without factoring age, condition, upgrades, and other extraneous variables that impact the price of a condo versus another. By computing the average-sale-price-per-square-foot for a particular downtown neighborhood allows me to determine which neighborhoods offer the most affordable lifestyle as well as examine changes in housing prices from month-to-month.


Downtown & Surrounding Neighborhoods
My analysis includes condominium units located in Bay View, Brewers Hill (including Beerline), East Town, Halyard Park, Lower East Side, Riverwest, Third Ward, Upper East Side, Walker’s Point (including Fifth Ward), and Westown.


My Observations
We have noticed a slight increase in closed transactions during the past few months. Despite this positive trend, we’re still experiencing declining values. In comparison to September 2009 figures, of the 10 neighborhoods I analyze each month, half of them experienced further declining values in October 2009. Brewers Hill (including Beerline) and Riverwest experienced the sharpest price drop ($14.83 and $10.48, respectively). Halyard Park and Walker’s Point (including the Fifth Ward) experienced modest increases in value ($7.96 and $4.85, respectively).


Average-Sale-Price-Per-Square-Foot: October 1, 2008 - October 1, 2009 (Neighborhoods ranked from highest to lowest):
1) Third Ward: $236.51 - Down $3.47 from 12-month period ending 9/1/2009
2) Walkers Point/Fifth Ward: $225.72 - Up $4.85 from 12-month period ending 9/1/2009
3) East Town: $210.73 - Down $6.61 from 12-month period ending 9/1/2009
4) Lower East Side: $208.26 - Up $2.24 from 12-month period ending 9/1/2009
5) Brewers Hill/Beerline: $177.34 - Down $14.83 from 12-month period ending 9/1/2009
6) All Neighborhoods: $175.66 - Down $2.58 from 12-month period ending 9/1/2009
7) Westown: $168.18 - Up $2.56 from 12-month period ending 9/1/2009
8) Upper East Side: $155.41 - Up $0.12 from 12-month period ending 9/1/2009
9) Halyard Park: $147.58 - Up $7.96 from 12-month period ending 9/1/2009
10) Bay View: $131.63 - Down $8.15 from 12-month period ending 9/1/2009
11) Riverwest: $95.27 - Down $10.48 from 12-month period ending 9/1/2009


Average-Sale-Price-Per-Square-Foot: Year-To-Date-Change During 2009 ((Neighborhoods ranked from greatest, positive change to greatest, negative change):
1) Brewers Hill/Beerline: Up $8.04 since January 1, 2009
2) Halyard Park: Up $4.38 since January 1, 2009
3) Westown: Down $0.13 since January 1, 2009
4) Lower East Side: Down $6.43 since January 1, 2009
5) All Neighborhoods: Down $13.08 since January 1, 2009
6) Third Ward: Down $13.18 since January 1, 2009
7) Walker’s Point: Down $13.31 since January 1, 2009
8) Upper East Side: Down $17.54 since January 1, 2009
9) Bay View: Down $23.85 since January 1, 2009
10) Riverwest: Down $26.37 since January 1, 2009
11) East Town: Down $42.38 since January 1, 2009


Please call me at 414.412.7980 or e-mail at dray@shorewest.com if you have any questions regarding the Downtown Milwaukee condo market.

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posted by David Ray @ 8:47 PM 0 comments