2021 is almost halfway over and home sales are still hot! In May 2021 there were 7,452 homes sold, which was an increase of 12.1% compared to May 2020. Statewide listings were down 26.2% to 21,195 while the median single-family home price rose 14.2% to $245,000. Homes continue to sell quicker including this last May. On average, homes are on the market for 73 days, which is 24% less time than May of 2020.
30-year fixed-rate mortgage dropped below 3% in the month of May to 2.96%, keeping demand conditions strong. According to Mary Duff, 2021 Chair of the Board of Directors, Wisconsin REALTORS® Association, “Even with supply as razor-thin as it has been this year, REALTORS® have been able to move homes quickly, which has helped to get buyers into homes and has fueled our growth in sales.”
Source data provided by the WRA
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