April Home Sales in Wisconsin Continue to Show Solid Growth

June 1, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums continued to climb in Wisconsin during April, outpacing the previous year’s sales by double-digits for the tenth consecutive month according to the latest housing data from the Wisconsin Realtors® Association (WRA).

An estimated total of 5,218 existing single-family homes and condos were sold in the Badger State in April. That was 8.9 percent higher than the 4,791 homes sold in March and 19.5 percent higher than the 4,365 homes sold in April 2011. It was the tenth consecutive month that homes sales have improved by double-digits year-over-year.

The median sales price for an existing home in Wisconsin increased by 4.0 percent in April to $128,000, up from $123,500 in March, and was 2.4 percent higher than the median price of $125,000 in April of last year.

Rob Keefe, Chairman of the WRA, stated, “After several years of a stagnate housing market, it’s encouraging to see sustained growth in home sales, especially as we enter the summer, which is the prime season for home sales in the state. We’ve been hearing from REALTORS® throughout the state that homes have been moving at a brisk pace, which bodes well for a strong summer of home sales.”

For the second consecutive month, all six of the regions that provide data for the monthly report posted gains in home sales over the previous year with the Southeast Region (+30.3 percent) reporting the largest increase followed by the West Region (+17.6 percent).

The Southeast Region recorded the most sales for the month with an estimated 2,017 home sales, up from 1,548 in April 2011, while the South Central Region followed with an estimated 1,029 closed sales for the month, up from 939 a year ago.

Year-over-year, three of the six regions posted an increase in their median prices led by the Northeast Region (+11.5 percent) with the West Region (-4.4 percent) posting the largest decline in prices.

The total number of homes available for sale increased as expected in April with 59,927 homes actively available. That’s up from 54,181 in March but down from 64,779 in April of 2011.

The state had an average 13.2 months supply of homes available for purchase, up from a 12.2 months supply in March but still down from a 15.8 months supply a year earlier.

Tags: existing homes, condos, sales, median home prices, Wisconsin

Source:
WRA