Statewide, year long sales were up almost 11% over last year and median prices increased 7.2% over last year. “Strong sales dominated 2013, which is remarkable given that this is compared to 2012, which was also a very good year for the housing market”, said Steve Lane, chairman of the WRA Board of Directors. Lane noted that housing sales were strong despite rising interest rates and prices. “Mortgage rates have increased a full percentage point since January, and median prices have grown consistently throughout the year,” Lane said. While they have risen lately, rates remain affordable historically.
Wisconsin Home Affordability index is currently at 227. This is a big decrease in affordability since an index of 274 seen last December.
HOWEVER, to put things into perspective, the National Home Affordability index is 170.
Regionally, here the real estate sales recap comparing 2013 to 2012: (Source WRA)
Southeast Wisconsin/Metro Milwaukee real estate statistics
25,274 homes sold in Southeast Wisconsin in 2013, up 11.1% over last year. Median sales price up 6.4%
South Central Wisconsin/Madison area real estate statistics
14,424 homes sold in South Central Wisconsin in 2013, up 15.4% over last year. Median sales price up 8.7%
Northeast Wisconsin/Fond du Lac/Appleton area real estate statistics
12,071 homes sold in Northeast Wisconsin in 2013, up 7.4% over last year. Median sales price up 4.2%
Central Wisconsin/Wausau area real estate statistics
4,429 homes sold in Central Wisconsin in 2013, up 9.2% over last year. Median sales price up 7.6%
Northwoods Wisconsin real estate statistics
6,249 homes sold in Northwoods Wisconsin in 2013, up 5.7% over last year. Median sales price up 1.7%
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photo credit http://www.flickr.com/photos/scjn/5423307327/