Median home prices in Wisconsin and metro Milwaukee
Median home prices, up 8.8 percent statewide in March, were
also up in Milwaukee, Washington, Ozaukee and Waukesha
counties compared to March 2014. Source: Wisconsin Realtors
Source: Wisconsin Realtors
MADISON - The Wisconsin housing market continued on its upward
trajectory in March with home sales increasing 16.1 percent and
median home prices rising 8.8 percent compared to March 2014,
according to data released Monday by the Wisconsin Realtors
For the first
quarter of 2015, existing home sales were 6.7 percent ahead of the
first three months of 2014, with median prices in the first quarter
up 7.6 percent compared to the first quarter last year.
fundamentals of the housing market have been good for the last
several months, and we were expecting solid growth this spring, but
double-digit sales growth is impressive,” said Dan Kruse, WRA board
chairman, in a statement.
The WRA credits
the drop in the statewide unemployment rate to 4.6 percent in March
and 30-year conventional fixed-rate mortgage remaining at 3.77
percent as reasons for the positive movement in the market.
median prices increased to $149,000 in March, which is 8.8 percent
higher than that same month last year.
consistent upward movement in home prices this year, and March was
the strongest so far,” said WRA President and CEO Michael Theo in a
statement. By comparison, existing home prices rose just 3.1 percent
during 2014 compared to 2013.
County, the median housing price increased more moderately compared
to the rest of the state at 2.2 percent for a median price of
$233,000. In Milwaukee County, the median price increased 12 percent
to $121,500; in Ozaukee County it rose 0.9 percent to $228,000; and
in Washington County it went up 25.3 percent to $207,950.
Sales for the
four-county metro-Milwaukee area were also strong. Home sales in
Waukesha County increased 24.9 percent compared to March 2014 with a
total of 421 homes sold last month, according to the WRA. Ozaukee
County saw the next largest increase in the metro area with an
increase of 21.7 percent change compared to the same period a year
before for a total of 101 homes sold in March. In Milwaukee County,
home sales went up 18.1 percent and 853 homes were sold, while in
Washington County the increase was 13.6 percent for a total of 134
homes sold in March.
foreclosures were also down 13.5 percent in the first quarter to
compared to the same period in 2014 - and 33.7 percent from the
first quarter of 2013, according to the WRA.
remaining low for months, there was a significant increase in new
listings in March, Theo said. He reported that new listings were up
15.1 percent last month compared to March 2014.
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