Housing Market Report-June 2018

Demand for homes in Wisconsin remained strong in May but the number of home sales fell 5% compared to May 2017 according to the Wisconsin REALTORS® Association’s May 2018 Home Sales Report. In contrast, median home sales prices increased 8% over the same period. The main reason for the drop in home sales and increase in home prices is lack of inventory of homes on the market, which has been a nationwide problem. Metropolitan counties in the state had just over 3.5 months of housing supply in May compared to rural counties which had over 7 months of supply. Typically,… Read More

Housing Market Report-May 2018

The healthy economy continues to invigorate Wisconsin’s housing market as buyer demand remains strong, motivating home prices to persistently increase. According to the Wisconsin REALTORS® Association’s April Home Sales Report, median prices in the state have increased 5.9% in the last 12 months, pushing up the median home sales price to $180,000. The low level of homes for sale is also a major contributing factor to the surge in home prices. Comparing April 2018 to last April, the level of homes for sale were 19% lower and new listings were 14% lower. As a result, it left only 4.2 months… Read More

Housing Market Report-April 2018

For the first quarter of 2018, real estate sales in Wisconsin were up 2.1% and median prices were up 6.3% compared to the first quarter of last year according to the Wisconsin REALTORS® Association’s (WRA) recent analysis of the current housing market. Lack of homes for sale is the leading contributor for the increase in sales prices. The WRA reported that there was only 3.1 months of available supply in urbanized metro areas of Wisconsin, making for a very strong seller’s market in these particular parts of the state. Over the last year, home prices increased nearly 3 times the rate… Read More

The Real Estate Market: A recap of 2017 and what to expect in 2018

For the third year in a row, Wisconsin’s thriving economy helped boost home sales to reach record levels in 2017 according to the Wisconsin REALTORS® Association’s most recent analysis of the housing market. Achieving record home sales given the severe shortage of homes on the market truly indicates how hot Wisconsin’s real estate market is. Annual sales in 2017 increased 1.4% compared to 2016 while the median sales price increased a remarkable 5.5% during the same period. If inventory didn’t constrain sales, we would have seen a much larger increase in the number of home sales. The dynamics of the housing… Read More

Home Sales Report July 2017

Diminishing inventory of homes on the market has kept sales lower than the last two years, but has propelled the median prices of homes to reach record levels according to the Wisconsin REALTORS® Association (WRA). Their most recent sales report provided significant statistics for the month of July as shown below. STATS FOR THE MONTH OF JULY COMPARED TO JULY 2017 Home sales Decreased 5% compared to 2016 Decreased 7.5% compared to 2015 Median sales price of homes Grew 5.9% compared to 2016 Grew 28.5% compared to 2011 Inventory of homes on the market Declined 13.8% compared to 2016 Declined 45%… Read More

Housing Market Report – June 2017

Wisconsin’s housing market in June hit record levels for sales volume and prices according to the latest home sales report by the Wisconsin REALTORS® Association (WRA). Over the last 12 months, the median sales price for homes increased a remarkable 6.3%. According to WRA Board Chairman, Erik Sjowall (2017), lack of inventory has helped boost home prices but is the main reason why sales have not grown more. Inventory of homes for the month of June declined 18.3% compared to June of last year and has helped reduce the average days on the market. Demand for housing has been driven by… Read More