Wisconsin existing home sales in January were up by 7.4% compared to their January 2023 levels, according to new data from the Wisconsin Realtors Association.
Wisconsin recorded 3,3436 home sales last month, compared to 3,200 in January 2023. This marked the first annualized monthly increase in home sales since December 2021. In comparison, the state saw a 17.4% year-over-year decline in for all of 2023.
January’s median price of $265,000 was 6% higher than the $250,000 price recorded one year earlier. Both new listings and total listings saw improvement in January – new listings were up 10.1% from the previous year, which helped to drive total listings up 2% over that same period.
The statewide months of supply improved by 19% from 2.1 months of supply in January 2023 to 2.5 months last month.
“We are still in a seller’s market, and the significant unmet demand for homes by millennial buyers will probably keep it that way for the foreseeable future,” said Tom Larson, president and CEO of the Wisconsin Realtors Association. “However, it is encouraging to see new listings increase in each of the last four months, and they were up by just over 10% in January. Sustained growth in listings is key if we are to move toward more balanced markets.”
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