Wisconsin home sales in January of 2012 rose almost 11% above sales last January, with 2,862 home closings versus 2,584 closing last January. That is a very encouraging number since January is usually the slowest month of the year for closings. While the number of Wisconsin home sales has risen, prices have declined 7% over the same time period.
Most regions in Wisconsin showed solid growth in home sales over the last year.
South Central WI: sales up 16.7% over last January, prices down 7.5%
Southeast Wisconsin/Metro Milwaukee: Sales up 10.1% over last January, prices down 7.6%
Northeast Wisconsin: Sales up 22% over last January, prices down 3.6%
Central WI: Sales down 6.7% and prices down 9.9%
Northern Wisconsin: Sales down 1.6% and prices down 22.7%
data source WRA
While there is a still a high inventory of homes for sale, that number is down as are the number of new listings. If this trend continues, it will help to balance the market in terms of supply and demand.
When selling a home, the market determines the price. Keeping a close eye on what homes like yours are selling for will enable you to position your property to be attractive to buyers. In the current market, that may mean a lower price than you desire. However, keep in mind if your goal is to move up to a bigger house, your money will go much further in that purchase. Ask your real estate agent for frequent updates on the competition or keep an eye on it yourself with a free My First Weber account. With a My First Weber account you can track price changes, new listings in your area and also see market statistics in real time. You don’t need to be working with a First Weber agent to set up an account, either! Go ahead and check out what you can do with a My First Weber account and contact First Weber for your real estate questions and concerns. There’s a First Weber office near you.
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