We are already over halfway through 2021 and homes are continuing to fly off the market! In July 2021 there were 8,510 homes sold, which is a 14.2 percent decrease from what we saw in July 2020. Statewide listings were down 11.0 percent to 25,383 while the median single-family home price rose 10.7 percent to $250,000. Homes continue to sell quicker including this last July. On average, homes are on the market for 65 days, which is 27.8 percent less time than July of 2020.
We continue to see tight inventory which has led to a drop in home sales in comparison to July of last year. Even with a drop in home sales compared to last year, July had a strong showing. Here’s what Mary Duff, 2021 Chair of the Board of Directors, Wisconsin REALTORS® Association, had to say about the July market; “It’s important to keep the sales figures in perspective. We set a record for month of July sales last year, as the economy began to recover from the lockdowns in the spring of 2020. With inventories shrinking over the last 12 months, we knew it was going to be difficult to match the record sales we saw in July 2020.”
Source data provided by the WRA
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