The Wisconsin real estate market continued its positive trend with home sales up 2.4% over last October and the median statewide price rising 4.7% to $155,000.
“We’ve had good weather this fall and that’s helped to maintain a positive momentum in the state’s housing market,” said K.C. Mauer, WRA board chairman.
Affordability remains high in Wisconsin, even with rising prices. This affordability is expected to taper off a bit next year due to the potential for rising interest rates and the ongoing trend of a declining number or homes for sale, which is referred to as “inventory. With less to choose from, buyers end up competing, which in turn raises prices.
Regionally, here the real estate sales recap comparing sales and prices in October 2015 vs 2014: (Source WRA)
Southeast Wisconsin/Metro Milwaukee real estate statistics
(includes Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Washington and Waukesha Counties)
2246 homes sold in October 2015, a 4.2% increase from last year at this time. Median sales prices up .7% to $169,250 for the metro Milwaukee area.
South Central/Southwestern Wisconsin area real estate statistics
(includes Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock and Sauk counties )
1295 homes sold in October 2015, a 6.3% increase from last year at this time. Median sales prices up 7.2% to $176,000 for the South Central region of Wisconsin.
Northeast Wisconsin area real estate statistics
(includes Brown, Calumet, Door, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Marinette, Menominee, Oconto, Outagamie, Shawano, Waupaca and Winnebago counties )
1224 homes sold in October 2015, a 1.9% increase from last year at this time. Median sales prices up 7.5% to $139,700 for the Northeast region of Wisconsin.
Central Wisconsin area real estate statistics
(includes Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara and Wood counties )
467 homes sold in October 2015, an 8.4% increase from last year at this time. Median sales prices up 16.1% to $130,000 for the Central region of Wisconsin.
Northwoods Wisconsin real estate statistics
(includes Ashland, Barron, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Langlade, Lincoln, Oneida, Polk, Price, Rusk, Sawyer, Taylor, Vilas and Washburn counties )
727 homes sold in October 2015, a decrease of 5.7% from last year at this time. Median sales prices up 3.1% to $134,000 for the Northwoods area of Wisconsin.
These numbers from The Wisconsin Realtors Association paint a general picture of the state of real estate in Wisconsin. To see the details of your community or even your neighborhood, connect with a First Weber real estate agent for a free consultation or discussion. They are happy to share local data with you.
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First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
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