There were fewer homes sold across southern Wisconsin last year, but despite that sellers made out well as home prices continued to rise, according to a report from the Realtors Association of South Central Wisconsin.
Across the south-central Wisconsin region (18 counties), the total number of sales were down 15%, from 18,546 in 2021 to 15,765 in 2022. Many agents report that the reduction in sales activity correlates to the 12.7% drop in new listings as sellers delay putting their homes on the market.
The median sales price continued to increase, adding another 10.9% in 2022. In Dane County, sales of homes in higher price points did soften as interest rates increased, shifting the median sales price back under $400,000 by year end. However, this doesn’t necessarily mean that the value of homes has declined, as the market for homes under $500,000 remains tight.
