Wisconsin recorded 3,707 home sales in February, a 7% increase from the 3,463 transactions from one year earlier. According to the Wisconsin Realtors Association, year-to-date sales were up by 4.4% compared to the first two months of 2024.
During February, Wisconsin’s housing market had 16,037 listings, a 0.4% uptick from the 15,972 one year before.
The median home price during February was $304,000, up 10.9% from the $275,000 price set one year earlier. Reduced affordability resulted in more days on the market for homes that closed in February – the average days on the market was 84 days, up slightly from the 83 days average set one year ago.
“There continues to be significant unmet millennial demand for housing, and unfortunately these buyers face significant headwinds with rising prices and high mortgage rates taking a toll on affordability,” said Tom Larson, president and CEO of the Wisconsin Realtors Association. “Given the weakness in inventories, we can expect strong price pressure for the foreseeable future. Hopefully mortgage rates moderate this spring to improve affordability.”
