July 2011 Wisconsin real estate sales numbers from the Wisconsin Realtors Association are in, and as expected, they are a big improvement over last July (which was greatly affected by the expiring tax credit).
July 2011 sales in all regions of Wisconsin were up, most by 30% or more, with the Northwoods leading the way due in part to the improving second home market.
Overall, median price was down 5.9% compared to last year at this time. “It is difficult to say how much of the change in the median price results from the discounting of home prices in a soft economy and how much is the result of a shift in the mix of homes sold to smaller entry-level or vacation properties,” said WRA President Bill Malkasian. Regardless of the reason, home affordability in Wisconsin remains very high with an index of 217, up from 202 last time this year.
|Region||Median price July 2011||Median price July 2010||% change||Sales July 2011||Sales July 2010||% change|
|South Central WI||$167,950||$175,000||-4%||1058||782||+35.3%|
Well priced, well presented properties are still the ones that are selling the fastest. While these statistics are representative of the Wisconsin real estate market, you should talk with a Realtor about your specific situation because counties, communities and neighborhoods are different and do perform differently. You can also view sold property data in Wisconsin at firstweber.com if you wish. Those of you outside of Southeastern Wisconsin and South Central Wisconsin may need to set up a free My First Weber account prior to viewing. This is to comply with MLS rules in those areas of Wisconsin.
Thank you for looking to the First Weber Wisconsin real estate & Wisconsin living blog for an update on the real estate market in Wisconsin. Please see firstweber.com to see what is currently for sale in your price range. You may be happily surprised and what your money can buy.