WAUKESHA - While
sales of homes have been slow out of the gate in Wisconsin,
median prices in the first quarter of 2014 are ahead of last
year’s pace, according to data released Monday by the Wisconsin
In a news
release, the WRA reported the average home price in the first
quarter of 2014 was $131,250, up 4.2 percent from $126,000 in
the first quarter of 2013. The association said the price
increases are largely due to the 7.2 percent median price
increase in February. In March, the median price jumped 1.9
percent over March 2013, from $134,000 to $136,500.
median prices are well below the national level of $189,000 seen
in February this year, the WRA noted.
obviously love to see prices moving up quickly, but moderate
price growth is really preferable, especially given how the
economy has grown recently,” WRA president and CEO Michael Theo
said in a statement.
Waukesha County was the lone county in the metro-Milwaukee area
behind in pricing in the first quarter of 2014 when compared
with the same time frame in 2013. Its average price fell 2.2
percent, from $223,900 in 2013 to $219,000 in 2014.
Milwaukee County jumped 13 percent thanks to its median price
rising from $88,500 to $99,999. Ozaukee County ($215,000) and
Washington County ($172,000) prices were ahead by 3.4 and 3.9
regions showed growth in pricing except for the central part of
Wisconsin, which was down 5.7 percent. The region includes
Adams, Clark, Juneau, Marathon, Marquette, Portage, Waushara and
prices grew in Milwaukee (16.9 percent) and Ozaukee (0.2
percent) counties, while Waukesha and Washington were down 0.5
and 3.8 percent, respectively.
quarter home sales down
flipside, the extend winter weather contributed to a weak first
quarter, as 2014 statewide home sales were 8.5 percent behind
the first quarter of 2013. A total of 11,315 homes have been
sold through March 31 compared with 12,368 in the first quarter
Three of the
six state regions - South Central, Northeast and Central - had
first-quarter sales drop between 5.2 percent and 7 percent
compared with the first quarter of 2013. The remaining regions
in the North, Southeast and West dropped between 10.3 percent
and 12.8 percent over the same time frame.
spring officially arriving in the middle of March, the spring
selling season has been slow to gather steam,” WRA Board
Chairman Steve Lane said in a statement.
The number of
new listings also declined 5.5 percent to 25,194, as did the
number of closed sales, by 8.5 percent to 11,315.
noted that the first quarter sales remain above the levels of
two years ago - a year that had a relatively mild winter by
hopeful that the spring thaw will jumpstart the selling season
that traditionally gains momentum in the second quarter,” Lane
In a typical
year, the WRA says about 31 percent of homes sell between April
and June, whereas only about 18 percent sell in the first three
months of the year.