Although statewide home sales and listings still saw year-over-year decline in September, the most recent Wisconsin Realtors Association (WRA) report showed some improvement, according to WisBusiness.
The annual decline in new home listings was under 4% for the second month running — an improvement from a previously steeper drop. The number of active listings fell 7.2% over the year in September, from 19,685 to 18,275.
Monthly home sales were down 18.4% over the same period, dropping from 7,602 in September 2022 to 6,205 last month. Wisconsin’s median home price, in turn, has been driven up by 9.3% over the year, from $270,000 to $295,000.
Simultaneously, inventory levels improved by 17.9% year-over-year, rising from 2.8 months of inventory to 3.3; that said, the WRA says supply remains tight. The state would need a 77% increase in listings to return to a balanced market.
