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Wisconsin recorded a double-digit drop in existing home sales during March as inventories remained tight.

According to data from the Wisconsin Realtors Association, there was a total of 4,279 home sales last month, down 10.2% compared to the 4,764 sales in March 2024. During the first three months of 2025, sales were down slightly, falling 0.8% relative to that same period in 2024.

Inventory levels were below the balanced market benchmark of six months of available supply, with March inventory at 3.2 months, unchanged from one year earlier. Total listings inched up by 0.6% year-over-year in March while new listings fell 1.3% compared to March 2024.

The median price in March was $310,000, up 3.7% from the $299,000 recorded on year earlier. The median price rose 7.3% to $300,500 in the first quarter of this year compared to the first quarter of last year.

“The moderating price appreciation, income growth and slight improvement in mortgage rates really helped on the affordability front,” said Chris DeVincentis, 2025 board chairman of the Wisconsin Realtors Association. “This is a good sign as we move into the peak season for sales. The ongoing challenge is the weak inventory levels that constrain home sales growth.”