Wisconsin’s existing home sales were up for the second straight month. In August, sales were up 31.1% over last August, according to Wisconsin Realtors Association data.
It is wonderful to see double digit increases throughout Wisconsin. It is certainly not a surprise, however. 2010 sales in July and August were low due to the home buyer tax credit which expired last June. Still, it is encouraging to see the market bounce back this year, with no such incentive in place.
| Region | Median price 8/11 | Median price 8/10 | % change | Sales 8/11 | Sales 8/10 | % change |
| Southeast WI | $151,800 | $160,000 | -5.1% | 1914 | 1383 | +38.4% |
| South Central WI | $160,000 | $171,700 | -6.8% | 1058 | 800 | +32.2% |
| Northeast WI | $124,000 | $135,500 | -8.5% | 939 | 746 | +25.9% |
| Central WI | $119,000 | $127,000 | -6.3% | 327 | 291 | +12.4% |
| Northwoods WI | $104,760 | $139,700 | -25% | 553 | 459 | +20.5% |
Median Home Prices
Median home prices in Wisconsin did decline 7% compared to last August. Data from the Federal Housing Finance Authority shows Wisconsin’s home values down 4.5% for the second quarter compared to last year and down 10.8% over the past 5 years, according to WRA President Bill Malkasian. He says, “While Wisconsin is far better off than western states like Californai, Arizona and Nevada, where homes of consistent quality saw their prices drop between 45 percent and 59 percent over the last five years, the weak economy has certainly softened our prices.”
Housing Affordability index now 226, up from 205 last August.
Housing remains very affordable is Wisconsin. When you combine low mortgage rates in the 4.7 percent range and lower home prices, you have a very affordable buying situation that can save many thousands of dollars over the years. “For buyers with good credit and a good downpayment, there are some excellent bargains in this market,” Malkasian said.
Search to see what your money can buy at firstweber.com
If you are one of those lucky buyers, please head on over to firstweber.com and see what is for sale throughout Wisconsin in your price range. You may be surprised at what your money can buy. Thank you for reading the First Weber Wisconsin real estate & Wisconsin real estate blog for information on current real estate market statistics for Wisconsin.
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