Wisconsin Real Estate Report – July 2022

Here is a quick overview of the statewide real estate statistics for the month of July, courtesy of the Wisconsin REALTORS® Association. Compared to July of 2021, statewide home sales fell by just over 19% to 7,750 total units. Statewide listings also dropped by 14.4%, down to 20,802 total listings on the market. Homes continued to move quickly as the average days on market was just 60 days, down 9.1% compared to July of last year. The average median single-family home price peaked at $279,000, an increase of 11.3% compared to the previous year, but a drop of $1,000 compared to June of this year.

Looking at the numbers, it’s easy to incorrectly assume that home sales are doing poorly compared to the sales numbers we saw in 2021. But as Brad Lois, Chairman of the Board of Directors for the WRA explains, there’s more than meets the eye. He said, “The weak inventories combined with higher mortgage rates really took a toll on sales in July. Home sales were down by double-digit margins in every region of the state. It is important to remember that 2021 was a record for existing home sales in Wisconsin, so these year-over-year comparisons are relative to a very strong 2021 housing market.”

Source data provided by the WRA

Curious about the value of your home?

Try out our Automatic Valuation Tool

You can get 3 instant home valuations just by entering your address at FirstWeber.com. Then, contact your agent to talk it over for their opinion.

Founded in 1971, First Weber Realtors® is a part of HomeServices of America, the nation’s largest provider of total home services. With 60 offices and more than 1,400 real estate professionals, First Weber is consistently number one in Wisconsin for unit sales and real estate sales volume. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com  

Subscribe via email for blog updates

Archives