There are a lot of people in Wisconsin who would like to buy a home but there aren’t many on the market. That combination has led to a rise in home prices statewide, Milwaukee Journal Sentinel staffer Paul Gores reports.
When compared to April 2017, the median sale price in Wisconsin in April was up 5.9% - $180,000 last month and $170,000 a year prior, according to data from the Wisconsin Realtors Association. There were also 6,716 closed sales in the state last month, down 0.4% from 6,745 in April 2017.
Listings of homes for sale in the state were off 14% from April last year, at 9,943 from 11,557. Through the first four months of 2018, listings trailed the same period in 2017 by 19%.
“Tight supply and strong demand are a recipe for strong price appreciation, and that is exactly what we are experiencing in Wisconsin,” Michael Theo, president and chief executive officer of the Wisconsin Realtors Association, said in the organization's monthly report.
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