For the first quarter of 2019, the number of home sales in Wisconsin were behind over 7% relative to last year’s first quarter, according to the most recent home sales report from the Wisconsin REALTORS® Association (WRA). Over the same time period, the quarterly median price increased 5.5%. Lack of inventory was the major contributing factor for sales to cool off and home prices to heat up, especially in urban localities.
Homes have appreciated considerably over the past seven years. To put it in perspective, Wisconsin’s median home sales price in March 2019 ($185,000) was over 50% higher than in March 2012 ($123,000). Generally, the real estate market becomes more active in spring, with an increase in new listings and more home sales. In Waukesha County, the number of home sales grew less than 25% from February to March compared to the 54% growth of home sales for the respective months last year.
Sellers definitely have the advantage in most markets but there are still some good opportunities for Buyers. If you’re looking to buy a home this year, make sure you have your financing ready, be prepared to act quickly, and work with an experienced REALTOR® that can guide you to a successful closing.
Sources for data and information:
“Market Summary.” Flexmls.com, Metro Multiple Listing Service, Inc. , met.flexmls.com/.
“Wisconsin REALTORS® Association: March 2019 Home Sales Report.” WRA, 22 Apr. 2019, www.wra.org/HSRMar2019/.
Suggested Pages For You:
- Browse Oconomowoc Homes For Sale
- Browse Oconomowoc Condos For Sale
- 10 Things to do this Spring in Oconomowoc
- Prepare for the Spring housing market: Tips to win a bidding war in a hot real estate market