Wisconsin Real Estate Report – April 2024

Key points from the WRA on the Wisconsin Housing Report for January 2023. 

Home Sales: With strong buyer demand and ongoing improvements in listings, existing home sales went up dramatically in Wisconsin. Home sales rose 25.7% in April relative to that same month last year. Compared to April 2023, home sales rose in April 2024 by double-digit margins in every region of the state.

Home Prices: The strong buyer demand has also put pressure on prices causing the median price to rise up to 6.4% to $300,000 compared to April 2023.

Inventory: Although we remain in a strong seller’s market statewide, the inventory situation continues to improve. The months of inventory improved 14.8% from 2.7 months in April 12023 to 3.1 months in April 2024. The improvement was seen in every region of the state, especially in rural countries.

Affordability: Rising prices and mortgage rates more than offset modest growth in family income, leading to a 10.1% decline in statewide affordability over the last 12 months.

Mary Jo Bowe, 2024 Chair of the Board of Directors, Wisconsin REALTORS® Association had this to say about the continued good news on the housing supply

“We’ve got a way to go before the market becomes balanced, but at least it’s moving in the right direction. The growth trend in listings has really helped our sales this year, and it bodes well for robust growth this summer.”

Source data provided by the WRA 

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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  

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