Wisconsin Home Sales Down 3.7 Percent Compared To Same Time Last Year

Home Prices, However, Continue Steadily Increasing

Tom Caswell (CC-BY)

While sales of existing homes in Wisconsin are down by 3.7 percent compared to the same time last year, the Wisconsin Realtors Association also says prices are up.

The dip in sales doesn’t amount to much in terms of real numbers. Michael Theo, president and CEO of the Wisconsin Realtors Association, said the number comes down to a total of 125 transactions.

At the same time, he said the median sale price has continued to rise as it has for the last 2 1/2 years. It’s up to $135,000, marking an increase of 6.5 percent.

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“That tells me the inventory overhang that we had from the recession, we’re starting to eat through,” said Theo. “In January we had about 7.2 months worth of inventory on the market, which is down about 3 percent from last year. It tells me we’re getting into a good long-term sustainable market between supply and demand.”

The interest rate for a 30-year fixed mortgage is down to about 3.7 percent.