Across the state home sales and median sale prices surged: Home sales are the highest they have been in more than 10 years. As a whole, Wisconsin home sales are up 6.9% over last September and median prices are up almost 8%.
Demand exceeds supply of homes
As in months past, sales would have been even higher if there were more homes on the market. Interest rates are very low, buyers are out in force and competing for well-kept, well-priced homes. Last year at this time there was more than 8 months of inventory for sale. This September that number is down to 6.9 months of inventory – and even lower in Milwaukee and Madison. Typically 6 months of inventory is considered a balanced market, not leaning heavily towards buyers or seller. In those major markets though, advantage seller.
It is a great time to sell with this buyer demand. And buyers, even though prices are rising the rates are still incredibly low.
Here is the real estate sales recap comparing September sales and prices in 2016 vs 2015: (Source WRA)
Southeast Wisconsin/Metro Milwaukee real estate statistics
2655 homes sold in Southeast Wisconsin in September 2016, a 6.3% increase over last September . Median sales price up 10% to $181,500.
(includes Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Washington and Waukesha Counties)
South Central/Southwestern Wisconsin area real estate statistics
1409 homes sold in South Central Wisconsin in September 2016, up 6.7% from last September . Median sales price up 7.4% to $196,500.
(includes Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock and Sauk counties )
Western Wisconsin area real estate statistics
701 homes sold in Western Wisconsin in September 2016, up 4.8%% from last September . Median sales price up 8% to $166,250
(includes Buffalo, Chippewa, Dunn, Eau Claire, Jackson, La Crosse, Monroe, Pepin, Pierce, St. Croix. Trempealeau and Vernon counties )
Northeast Wisconsin area real estate statistics
1439 homes sold in Northeast Wisconsin in September 2016, up 7.7% from last September . Median sales price up 6% to $142,000.
(includes Brown, Calumet, Door, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Marinette, Menominee, Oconto, Outagamie, Shawano, Waupaca and Winnebago counties )
Central Wisconsin area real estate statistics
528 homes sold in Central Wisconsin in September 2016, up 17.9% from last September . Median sales price up 8.2% to $125,500.
(includes Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara and Wood counties )
Northwoods Wisconsin real estate statistics
819 homes sold in Northwoods Wisconsin in September , up 4.1% from last September . Median sales price up 4.5% to
(includes Ashland, Barron, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Langlade, Lincoln, Oneida, Polk, Price, Rusk, Sawyer, Taylor, Vilas and Washburn counties )
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.
To see Wisconsin real estate for sale, please visit firstweber.com and download our free real estate apps.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Southwestern WI, Western WI & parts of MN, 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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