Wisconsin recorded 5,817 home sales in September, down 8.7% from the 6,370 transactions recorded one year earlier.
According to data from the Wisconsin Realtors Association (WRA), the decline in home sales occurred while the number of available properties increased year-over-year – 20,862 last month, a 6.1% uptick from the 19,668 available in September 2023.
Also on the rise was the median home price – $310,000, up 6% from $292,500 in the prior year. The WRA data found only 18.2% of the listings were below $200,000 in September, while 31.4% of listings were in the $200,000 to $349,999 range and the remaining 50.4% of listings exceeded $350,000.
Year-to-date, home sales in Wisconsin are up 3.8% compared to the first nine months of 2023 while the median price for the first three quarters of 2024 was up 7.6%.
“We did see an improvement in overall listings in September, but this is still a very challenging market for first-time buyers who are traditionally looking for starter homes at lower price points,” said WRA President and CEO Tom Larson. “There’s a lot of unmet millennial demand, which unfortunately will keep pressure on prices and further shrink the inventory of starter homes.”
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