Strong home sales in February contributed to the state’s best winter for the market in over a decade, according to the Wisconsin REALTORS Association.
The latest WRA data show sales of existing homes increasing 4.1 percent last month compared to February 2015.
Each region posted sales increases last month, with the statewide total at 3,666 homes sold. That helped push the state to more than 12,700 homes sold between December and February.
Regions generally had increases between 1.3 percent and 3.6 percent, though the northern part of the state was up 16.8 percent largely due to the mild winter.
“This has been a very robust winter for Wisconsin’s housing market with sales at the highest level we’ve seen since we began collecting data in 2005,” said K.C. Maurer, WRA board chairman. “We’re definitely bringing momentum into the spring and summer months where traditionally most of our sales take place.”
Median prices, meanwhile, jumped 6.8 percent to $146,800. The increase, said WRA President and CEO Michael Theo, is largely attributable to higher demand of homes and lower supply of homes.
There are now less than 38,000 homes available for sale, an 11.8 percent decrease from last year.
— By Polo Rocha,
WisBusiness.com
