© 2024 WXPR
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Home Sales Continue Strong Though Listings Are Short In Some Areas

Pixabay.com paulbr75

Late summer buying helped spur homes sales in the Northwoods, with an increase in sales and and increase in prices.

The Wisconsin Realtors Association publishes a monthly report on home sales and prices. The recent trend has been a decline in sales due to short inventories in some parts of the state, mostly in urban areas.

But Realtor's economist David Clark reports September was a bit different as the public kept buying what homes were available...

"We were up about 5.2 percent this September compared to September of 2018. When you look at prices, their up about 5.4 percent..."

The report says the number of new listings made it a bit easier to find something to buy...

"...The price picture is pretty similar. Prices are up well above the pace of inflation. Inflation is quite low. We're going up somewhere in the range of 3-3.5 times the rate of inflation regardless of which of these you're looking at...."

In the 18-county northern area, median prices rose 8 percent to $172,000 with sales up about 3 percent from a year ago. In central Wisconsin, prices remained flat, with the median price at $147,000 and sales were up almost 15 percent from a year ago.

Clark says with a healthy economy and low unemployment, the market essentials still remain positive.

Up North Updates
* indicates required
Related Content