Wisconsin Real Estate & Wisconsin Living presented by First Weber Group

Wisconsin home sales continue to improve, with March sales being up 25% over March 2011, according to the Wisconsin REALTORS Association.  South Central WI and Metro Milwaukee real estate also showed large growth in home sales.

While the milder winter may have contributed a bit to the growth in sales, it is important to note that home sales have been on the rise in Wisconsin for the last nine months.  All areas of Wisconsin have seen great improvement.

Take a look at home sales and prices by Wisconsin region during the first quarter compared to last year’s first quarter:

Southeastern Wisconsin (Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Washington and Waukesha Counties)

Sales up 20.8%, median price down 4.2%

South Central WI (Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock, Sauk Counties)

Sales up 19.8%, median price down 3.4%
Northeast WI (Brown, Calumet, Door, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Marinette, Menomonee, Oconto, Outagamie, Shawno, Waupaca, Winnebago Counties)

Sales up 26.3%, median price up 2.7%

Central WI (Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara, Wood counties)

Sales up 14%, median price up .2%

Northwoods Wisconsin (Ashland, Barron, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Langlade, Lincoln, Oneida, Polk, Price, Rusk, Sawyer, Taylor, Vilas, Washburn counties)

Sales up 12.4%, median price down 6.6%

Months of inventory is down, affordability index also down

In addition to increased sales over the last nine months, months of inventory is down and the affordability index is also down by 20 points from last month.  Make sure your home is priced just right and presents very well to take advantage of this increased buyer activity!  To see what homes have sold for in your neck of Wisconsin, please do a sold search at firstweber.com.  (Because of Multiple listing service rules, some MLS systems require yo to register for a free myFirstWeber account before viewing sold data. )

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog for an update on the Wisconsin housing market. To find a First Weber agent or office, or search for Wisconsin real estate for sale, please search firstweber.com

Local personality John McGivern just started a new community profile show on Milwaukee public television, Around the Corner with John McGivern. His first community profile is the city of Racine.  Racine County  is located just south of Milwaukee County boarded to the east by Lake Michigan and in between the major metropolitan areas of Chicago and Milwaukee. Racine is home to some major corporations as well as historic architecture. Watch the video to learn more!

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog to watch this video about Racine, WI. To learn more about Racine, please see this article on Racine’s North Beach and this article about the inspiration of Frank Lloyd Wright in Racine.  You can also search for Racine real estate at firstweber.com and check out sold property data in Racine, WI.  First Weber Group has a real estate office in Racine. Visit our Racine office page to select a Racine real estate agent.  For more information on Racine, please contact First Weber.

Throughout Wisconsin, home sales are on the rise. February, 2012 was the eighth month of rising sales in Wisconsin, with a 15% increase over last February.  Home sale prices were very moderately down, just 1.7%. Sales started increasing last summer and thankfully, have continued their upward pace. The great spring weather helped. If you are a seller, do everything in your power to take advantage of buyer activity. If you are a buyer, you may have more competition.  Many areas of the country have seen a shift in the market. It will make its way to Wisconsin.

Each region in Wisconsin performed well in February, with Southeast Wisconsin leading the over 20% increase.

Sales by reqion: (source WRA)

Southeast Wisconsin (Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Waukesha and Walworth Counties)

Sales up 22.6%, median price down 4.1%

South Central Wisconsin (Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock and Sauk Counties)

Sales up 12.9%, no change in median price

Northeast Wisconsin (Brown, Calumet, Door, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Marinette, Menominee, Oconto, Outagamie, Shawno, Waupaca, Winnebago Counties)

Sales up 16.3%, median price up 1.3%

Central Wisconsin (Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara and Wood Counties)

Sales up 6.3%, median price down 2.5%

Northwoods, Wisconsin (Ashland, Barron, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Langlade, Lincoln, Oneida, Polk, Rusk, Sawyer, Taylor, Vilas and Washburn Counties)

Sales up 1.8%, median price down 5%

Another interesting trend is the number of new listings, the number of unsold homes on the market and the months supply of inventory are all down.  Combine this with a higher rate of sales and we should begin to see a more balanced market emerge.

For information on specific regions of Wisconsin, here is an update on South Central WI and on Metro Milwaukee real estate sales.

Thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog.

To see Wisconsin real estate for sale, please see firstweber.com where you can also search Wisconsin sold property data to see what that house down the street sold for. In some areas, a free MyFirstWeber account may be needed to view sold data due to MLS rules.

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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.

Thank you for reading the  First Weber Wisconsin real estate & Wisconsin living blog.  To search for Wisconsin real estate for sale, please visit firstweber.com

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Real estate sales across Wisconsin have improved in 2011, with many regions showing increased sales over 2010.  Statewide sales rose .2% and median sale price fell 6.4% It was wonderful to see home sales in the second half of 2011 well over numbers during the same time in 2010… December sales were up 11% over last December. We’ll keep you posted on what we hope will be a continuing trend in 2012.

Wisconsin real estate sales growth by region

Southeast Wisconsin:  Sales up 3.4% over previous year with 18,386 homes sold in 2011. Median price down by 9% to $142,000.

South Central Wisconsin: Sales down 1.2% from last year with 10,195 homes sold in 2011. Median price down by 3.7% to $156,000.

Northeast Wisconsin: Sales up .1% over previous year with 9,019 homes sold in 2011. Median price down 5.5% to $118,100.

Central Wisconsin: Sales down 6.1% from  previous year with 3,160 homes sold in 2011. Median price down 6.3% to $106,000.

Northwoods Wisconsin: Sales up 2 .1% over previous year with 5,028 homes sold in 2011. Median price down 4.2% to $115,000.

Though new listings are down, meaning less homes for buyers to choose from, it remains a buyer’s market in Wisconsin.  Low prices and low mortgage rates has pushed affordability to high levels, great news for buyers who have good credit and are able to buy now.   See what’s available for sale in Wisconsin at firstweber.com.  Or, check out SOLD property data all across Wisconsin with First Weber’s Sold property search, available for free. A free account registration may be needed in some parts of Wisconsin due to MLS rules.

For more information about Wisconsin and Wisconsin real estate, please see the First Weber Wisconsin real estate & Wisconsin living blog.

data provided by the Wisconsin REALTORS Association.