Wisconsin recorded 6,721 home sales in August, a 4.7% decline from the 7,055 sales generated one year earlier.
According to data from the Wisconsin Realtors Association, the year-over-year decline in home sales occurred as the total statewide listings increased from 20,277 properties in August 2023 to 20,532 last month. The 3.6 months of inventory last month was virtually unchanged from the prior year.
While sales were down, prices were up. The $324,000 median home price in August represented an 8% increase from the $300,000 one year before.
“Growth in new listings was solid during the first five months of the year, but the summer has been a different story,” said Tom Larson, president and CEO of the realtors’ group. “New listings weakened in June, had a small rebound in July, but fell back again in August. We do think new listings will improve if the downward trend in mortgage rates continues.”
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