More Good News for the Wisconsin Housing Market in March
April 23rd, 2015
As mentioned in our previous blog post on the February home sales report, January and February of this year showed significant growth in the Wisconsin housing market. Fortunately, the good news keeps on coming! The Wisconsin Realtors Association recently relea
sed the 2015 March Home Sales Report that indicates substantial growth in both home sales and median prices this past month. Home sales increased 16.1 percent in March 2015 over March 2014, and median prices rose 8.8 percent to $149,000 compared over tha
t same period.
Dan Kruse, Wisconsin Realtor Association (WRA) board chairman, said, “The market is definitely heating up, and it couldn’t come at a better time as we move into the prime homebuying season.” The report states that in a typical year, about 27.1 percent of homes sell in the spring months between March and May. With inventory at an all time low in the prime homebuying season, this is the perfect time to put your house on the market. On top of that, five of six regions in Wisconsin saw double-digit growth in sales during March.
Along with home sales on the rise, the statewide median price rose to $149,000 compared to last month’s price of $137,900, coming to an 8.8 percent increase. Sprinkman Real Estate personally saw a jump in new listings in March that has luckily evened out the market a bit in terms of inventory levels; however, a large demand for more houses on the market remains.
If you’re ready to buy a home now so you can move in for the summer, we encourage you to take action. Sprinkman Real Estate has a bevy of new lake front listings up on the market. Here’s a taste: