March 2011 Wisconsin real estate update from First Weber Group

Wisconsin home sales and median prices fell in March according to data released by the Wisconsin REALTORS Association. 

Year-to-date, closed sales in Wisconsin are down 5.8%: 9,017 homes have been sold this year through March vs 9,572 last year during this time period.  The median home sales price is down 9.3%: $122,500 vs $135,000 last year.

Regionally, the Northwoods area of Wisconsin is improving while all other regions slipped in both categories.

Regional Total

YTD median price 2011

Regional Total

YTD median price 2010

% change

Regional Total

YTD sales 2011

Regional Total

YTD sales 2010

% change
Southeast WI $130,000 $149,900 -13.3% 3,333 3,528 -5.5%
South Central WI $145,000 $154,900 -6.4% 1,759 1,847 -4.8%
Northeast WI $110,000 $122,500 -10.2% 1,545 1,681 -8.1%
Central WI $92,000 $107,800 -14.7% 559 606 -7.8%
Northwoods WI $98,750 $96,000 +2.9% 852 781 +9.1%

9,000 homes sold in the first 3 months of 2011.  Was yours one of them?  We’ve been hearing reports that the fresh inventory priced right from the get-go is what is moving.   If someone saw your house when it was newly listed and felt it was overpriced, how do you know they will look at it again when you make one of the suggested price reductions?    Pricing is so very important – you’re better off getting it priced right at the start when activity will be the highest. 

Please talk to your listing agent about a strategy to make your price compelling so you can move on with your life. Ask for absorption rates in your area. Absorption rates analyze supply and demand and may provide you with a pricing strategy that will get your home sold.  Study your competition and your home with the eyes of a buyer.

Thank you for reading the First Weber Wisconsin real estate blog for March 2011 Wisconsin housing statistics.  9,000 homes sold so far this year.  To sell yours, make your price compelling.

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