Wisconsin Real Estate Report – November 2024

December 20, 2024

Key points from the WRA on the Wisconsin Housing Report for November 2024.

Home Sales: In November, home sales rose by 1.7% compared to November 2023. November sales varied across regions, with solid growth in the South Central and Western region with relatively flat sales in the Central and Southeast regions and weaker sales in the Northeast and North regions. In contrast, year-to-date growth for 2024 was consistently positive across all regions. 

Home Prices: The mismatch between supply and demand has driven up home prices. The median price rose 10.8% to $310,000 this November compared to last November. 

Inventory: There was an improvement in total listings, which were up 7.9% compared to November 2023, however, the housing market still remains a strong seller’s market. The inventory of available homes remains very tight even as solid demand conditions persist. 

Affordability: Affordability remains a significant challenge and while the 30-year fixed mortgage rates are more than half a percent lower than November 2023, they have been rising the past two months. 

Tom Larson, President & CEO, Wisconsin REALTORS® Association had this to say about the advantages of buying in of-peak season:

               “Home sales are generally slower during the winter months, but there are some potential advantages to buying during this time of year. You will likely face less competition from other buyers, and as a result, you can expect more flexibility from sellers who are motivated to list their homes during this slower season for sales.”


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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