'Wildest market I've seen:' Amid COVID-19, Milwaukee area realtors say, 'We need more houses to sell!'

MILWAUKEE -- 2020 has been a year for many unprecedented things, and the housing market in the Milwaukee area is in uncharted territory. Many people are working to cash in on it.

"I've been doing this since 1992, and this is probably the wildest market I've seen," said Beth Jaworski, realtor. "We need more houses to sell!"

Jaworski has found herself with a problem many people in her shoes never thought would be an issue.

"Real estate is all supply and demand, and we have demand like you can't believe, but we do not have the supply," said Jaworski.

That's right. There are literally not enough houses to go around, and as a result, for people who may be looking to get rid of theirs, it's a seller's market.

"It is great to be a seller right now," said Jaworski.

Beth Jaworski

According to Jaworski, on average, a home put up for sale sits on the market for roughly 30 days, and has, on average, a number of offers that frequently grows into the double digits.

"We are seeing buyers across all ages and price points," said Jaworski.

That means sellers stand to gain quite a bit financially as a result.

"If you have a very competitive price, you have all these buyers who are anxious to make offers, and they will get into competition with each other," said Jaworski.

It's not clear what is driving would-be homeowners to this part of the world, but one thing Jaworski pointed out -- the pandemic has put renewed emphasis on the importance of having your own place.

"This is pushing them to do it, and especially with everyone working from home now," said Jaworski. "We're seeing a lot of people who need more room for that."

So if you're a potential seller -- get going while the getting is good, and if you're looking to buy -- good luck.