The Wisconsin housing statistics are in for May of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Existing home sales continued to lag behind 2013 levels but median prices rose by a solid margin in Wisconsin according to the most recent housing market report released by the Wisconsin REALTORS® Association (WRA). May home sales dropped 6.9 percent compared to the May 2013 volume of sales. In contrast, median prices increased over the same period, rising 3.8 percent to $150,000.
“This is the fifth straight month of reduced home sales compared to where we were this time last year, and there are multiple potential reasons why,” said Steve Lane, chairman of the WRA board of directors. He pointed out that state economy appears to be steadily improving. The unemployment rate continues to drop and at 5.7 percent in May, it stands a more than a percentage point below where we were last year. In addition the state has added more than 38,300 jobs over the last year according to the U.S. Bureau of Labor Statistics. The harsh winter contributed to slower sales in the first four months, but it can’t explain the slower sales in May. “Even though last year was a strong year for sales, we expected a slight bounce in May sales as the prolonged winter ended,” Lane said. “But we haven’t seen that bounce yet.”
Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, overall home sales & prices have been increasing over the past few years. This month however showed a decrease of home sales statewide, but an increase in home prices. Rock County however showed increases in both sales and price!
Thinking of purchasing a home before prices or rates rise any further? I’d be happy to show you any homes currently listed for sale. Feel free to visit Real Estate Listings in Rock County to search for current Rock County properties or visit Real Estate Listings in Dane County for homes in Dane County Wisconsin.
Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:
Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.
Housing Statistics for the State of Wisconsin:
Home Sales: 7,008
Median Home Price: $150,000
Home Sales: 7,485
Median Home Price: $144,500
Housing Statistics for Dane County, WI:
Home Sales: 829
Median Home Price: $214,900
Home Sales: 938
Median Home Price: $208,250
Housing Statistics for Rock County, WI:
Home Sales: 209
Median Home Price: $124,000
Home Sales: 206
Median Home Price: $114,450
View my report from last month. Wisconsin April 2014 Housing Statistics