Realtors Association of South Central Wisconsin Inc. (RASCW) recently released its January–June reportof housing market statistics for 2023.
Home sales continue their decline throughout the region, down almost 15% in June and 20% year to date. Dodge County has seen the largest drop overall in sales, while Green County is down just 7.1%.
Although they stabilized briefly in early June, 30-year fixed interest rates continued their climb to 6.71% by the end of June. Although data suggests that inflation is softening, the low inventory in housing sales is increasing housing costs and adding to the inflationary picture.
The median sales price increased again, averaging 6.6% for the first half of 2023. Dane County ends the first half of the year at $409,900. Green County has seen a year-to-date decrease in median sales price from $275,000 in 2022 to $235,000 in 2023.
Inventory remains tight, with under 1.5 months of supply in all areas. This statistic calculates the amount of time it would take to sell existing inventory based on past sales pace. There has been some increase in supply over the last six months, as new listings have outpaced sales consistently since January.
