In October, statewide home sales were up nearly 25%, compared to last October according to the Wisconsin REALTORS® Association (WRA) latest home sales report. Over the same time period, the median home sale price increased more than 16%.
Mortgage rates have been lingering below 3%, which has supported such strong home sales and prices. Comparing the first 10 months of this year compared to 2019, Wisconsin home sales were up 4.5% and the median price was up double digits- over 11%.
Home prices in Waukesha County have held steady so far, rather than declining, as we historically see towards the end of the third quarter of the year. As winter weather moves closer, home prices and buyer competition are expected to ease. Buyers may find good opportunities this winter season, and be able to take advantage of the low mortgage rates.
To discuss your real estate needs, please don’t hesitate to reach out to us to discuss your home buying or selling goals.