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.
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.