The Wisconsin real estate market closes strong as a new record high has been set for annual home sales! In December 2021 there were 7,301 homes sold, which was an increase of 0.4% compared to December 2020. Statewide listings were down 12.9% to 15,037 while the median single-family home price rose 10.2% to $236,850. Homes continue to sell quicker including this last December. On average, homes are on the market for 75 days, which is 11.8% less time than December of 2020.
Even with tight inventories throughout the year, Wisconsin was able to set a record high for annual home sales due to a large buyer demand. This level of buyer demand is leading to an increased median home sale price. According to Michael Theo, President & CEO, Wisconsin REALTORS® Association, “We sold more than twice as many homes as came on the market in December, which is why home prices increased by just over 10% since December of last year. However, there have been signs that home price appreciation has begun to moderate in recent months, which is welcome news for buyers looking to buy in 2022.”
We are excited to see what 2022 brings for the Wisconsin real estate market!
Source data provided by the WRA
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