First Weber Group REALTORS®

November, 2011 Wisconsin real estate sales up 14.8% over last November

According to statistics released by the Wisconsin Realtors Association, this November’s Wisconsin real estate sales are well ahead of last November and the statewide median sale price fell just over 2% during that same period.

Home sales were up in four of the six regions of Wisconsin.

In the North, sales rose 27% with 429 residential properties sold in November, 2011 vs 336 in November of 2010.

South Central sales rose 25% with 754 properties sold vs 602 in November, 2010.

Southeast Wisconsin real estate sales rose 21% with 1359 properties sold vs 1119 in November, 2010

Northeast WI sales were up almost 8% with 686 sold vs 636 in November, 2010.

In Central Wisconsin, sales were down 6% compared to last November, with 227 residential properties sold vs 239 in November, 2010.

We’re defintely closing out the year on a strong note,” said Rob Keefe, Chairman of the WRA Board of Directors. “The strong market of the last few months has pulled sales in 2011 nearly even with the 2010 level,” he said.

Still a buyer’s market

“This is clearly a buyer’s market, and while inventories are down from October, they still remain high at more than 14 months,” said WRA President and CEO Michael Theo.  14 months of inventory means that at the current rate of sales and number of listings available, it would take 14 months for them all to sell.

High affordability

The WRA Housing Affordability index for November was at 242, compared to the national average of just under 200.  ”We’ve always known that you get a lot of home for your money in WIsconsin, and that is especially true in this market,” said Theo.

If you are in the position to purchase Wisconsin real estate at this time, you’ll find a wonderful selection of properties to choose from at affordable prices at firstweber.com.

To see more articles about Wisconsin real estate, please visit First Weber’s Wisconsin real estate & Wisconsin living blog.