Home Sales Continue To Grow As Median Prices Moderate

Date:
For Release:
For More Information Contact:
12/19/11
Immediately
Mike Theo, WRA President and CEO, 608-241-2047, [email protected]
or
David Clark, Economist, C3 Statistical Solutions and Professor of Economics, Marquette
University, 414-803-6537, [email protected]
Home Sales Continue to Grow as Median Prices Moderate

MADISON, WI November home sales in Wisconsin were well above last year, and the trend of declining prices
moderated somewhat, according to data released by the Wisconsin REALTORS Association (WRA). Existing
home sales were up 14.8 percent in November relative to that same month last year, and the statewide median price
fell just 2.2 percent to $134,000 over that period.
We are definitely closing out the year on a strong note, said Rob Keefe, Chairman of the WRA Board of
Directors, noting that the seasonal pattern of home sales typically slows as winter approaches. The strong market of
the last few months has pulled sales in 2011 nearly even with the 2010 level, he said. Keefe noted that year-to-date
home sales through the end of November are now less than 1 percent below last year, and that is without any bump
from the federal government to stimulate existing home sales.
Home sales were up in four of the six regions of the state, with three of the six regions seeing their November home
sales grow more than 20 percent. The strongest region in the state was the North where sales rose 27.7 percent over
November 2010. This was followed by the South Central region, which was up 25.2 percent, and the Southeast
region, up 21.4 percent. The Northeast region was up a solid 7.9 percent, whereas November existing home sales fell
5 percent in the Central region and were down 6.6 percent in the West compared to November sales last year.
The statewide median price of existing homes fell 2.2 percent in November compared to November 2010, and yearto-date, median prices fell 6.1 percent. This is clearly a buyers market, and while inventories are down from
October, they still remain high at more than 14 months, said WRA President and CEO Michael Theo. This means
buyers will be in the drivers seat for the foreseeable future. Regionally, there was some volatility with half the
regions showing median prices down: the Southeast down 9.7 percent, South Central down 2.6 percent and the
Northeast down 4.8 percent. The Western region was essentially flat, and median prices in the North and Central
regions were up 7.3 percent and 15.8 percent, respectively.
The economy did get a little good news in November with an improvement in the national unemployment rate and
even an uptick in consumer confidence and consumer expectations, said Theo. The national unemployment rate
improved to 8.6 percent in November, and the Wisconsin unemployment rate has also been trending downward
recently. In addition, the Conference Boards Consumer Confidence Index improved, as did their Leading Economic
Indicator Index due in part to better consumer expectations. These are both positive signals on the economy, but
they are very preliminary and it will take sustained improvements, including significant job growth, before many
homebuyers are comfortable diving back into this market, said Theo. However, if these trends continue, new
buyers will be greeted with very affordable housing in the state, with Wisconsin housing among the nations best
values.
The WRAs report showed that the November WRA Housing Affordability Index was at 242, meaning that the
family with median income can afford to buy 242 percent of the median-priced home in the state, given current 30year fixed-rate mortgage rates and a 20 percent down payment. Comparing Wisconsins index with a recent National
Association of REALTORS Affordability analysis, Wisconsin housing was found to be more affordable than the
U.S., where the index was just under 200, as well as all of the four broad census regions, especially the Northeast
where the index was 163 and the West where the index was 165. Weve always known that you get a lot of home
for your money in Wisconsin, and that is especially true in this market, said Theo.
The Wisconsin REALTORS Association is one of the largest trade associations in the state, representing over 13,400 real estate brokers, sales
people and affiliates statewide. All county figures on sales volume and median prices are compiled by the Wisconsin REALTORS Association
and are not seasonally adjusted. Median prices are only computed if the county recorded at least 10 home sales in the month. All data collected
by the Wisconsin REALTORS Association are subject to revision if more complete data become available. Beginning in 2010, all historical
sales volume and median price data at the county level have been rebenchmarked using the Techmark system which accesses MLS data directly
and in real time. The Wisconsin Housing Affordability Index is updated monthly with the most recent data on median housing prices, mortgage
rates and estimated median family income data for Wisconsin.
Wisconsin Monthly Housing Statistics Report - November 2011

Provided by the Wisconsin REALTORS Association
Report Criteria: Reflecting data through: November 2011 | State: WI | Type: Residential
Wisconsin - Statewide
Wisconsin
11/2010
11/2011
% Change
YTD 2010
YTD 2011
YTD % Change
New Listings
6,412
5,358
-16.4%
119,491
101,131
-15.4%
Closed Sales
3,334
3,829
+14.8%
48,005
47,596
-0.9%
137,000
134,000
-2.2%
141,600
133,000
-6.1%
Months Supply of Inventory
14.3
14.4
+0.7%
Inventory of Homes for Sale
61,161
61,216
+0.1%
Median Sales Price
Inventory of homes for sale includes residential single family, duplex, condo, and townhouse properties.
Current Month
Year-to-date
Historical Activity
Median Sales Price
New Listings
Sold Listings
Inventory and Affordability
The information used to create the November 2011 Housing Trends report was current as of 12/12/2011 6:09:00 PM. The information is subject to change due to the dynamic nature
of the WRA's housing statistics system, which is updated daily based on information present in local participating MLS (multiple listing service) systems.
Wisconsin REALTORS Association 608-241-2047
Page 1
Wisconsin Regional Report

Median Price
11/2011
11/2010
Sales
Region
County
% Change
Southeast
Kenosha
122,500
137,000
-10.6%
114
89
+28.1%
Southeast
Milwaukee
100,000
102,450
-2.4%
528
436
+21.1%
Southeast
Ozaukee
200,000
261,250
-23.4%
67
54
+24.1%
Southeast
Racine
87,750
143,750
-39.0%
134
118
+13.6%
Southeast
Sheboygan
102,000
139,900
-27.1%
70
59
+18.6%
Southeast
Walworth
135,000
163,000
-17.2%
95
62
+53.2%
Southeast
Washington
180,000
192,075
-6.3%
101
70
+44.3%
Southeast
Waukesha
211,000
229,900
-8.2%
250
231
+8.2%
Southeast
Regional Total
138,500
153,300
-9.7%
11/2011
1,359
Median Price
11/2011
11/2010
11/2010
1,119
% Change
+21.4%
Sales
Region
County
% Change
Milwaukee
Milwaukee
100,000
102,450
-2.4%
528
436
+21.1%
Milwaukee
Ozaukee
200,000
261,250
-23.4%
67
54
+24.1%
Milwaukee
Washington
180,000
192,075
-6.3%
101
70
+44.3%
Milwaukee
Waukesha
211,000
229,900
-8.2%
250
231
+8.2%
Milwaukee
Regional Total
149,750
159,000
946
791
+19.6%
-5.8%
11/2011
Median Price
11/2011
11/2010
11/2010
% Change
Sales
Region
County
% Change
South Central
Columbia
123,000
115,000
+7.0%
46
35
+31.4%
South Central
Crawford
NA
NA
NA
0%
South Central
Dane
210,000
213,475
-1.6%
330
250
+32.0%
South Central
Dodge
90,000
140,950
-36.1%
67
42
+59.5%
South Central
Grant
100,000
68,000
+47.1%
23
15
+53.3%
South Central
Green
134,000
109,000
+22.9%
29
23
+26.1%
South Central
Iowa
113,500
121,385
-6.5%
14
22
-36.4%
South Central
Jefferson
129,900
134,450
-3.4%
52
46
+13.0%
South Central
Lafayette
72,000
NA
NA
10
+25.0%
South Central
Richland
79,000
NA
NA
11
+37.5%
South Central
Rock
95,000
91,000
+4.4%
117
104
+12.5%
South Central
Sauk
162,500
162,500
0%
49
43
+14.0%
South Central
Regional Total
152,900
157,000
-2.6%
11/2011
754
11/2010
602
% Change
+25.2%
Page 2
Median Price
Region
County
West
Buffalo
West
11/2011
11/2010
Sales
% Change
11/2011
11/2010
% Change
NA
73,900
NA
10
-60.0%
Chippewa
133,000
105,000
+26.7%
49
48
+2.1%
West
Dunn
136,250
130,000
+4.8%
38
32
+18.8%
West
Eau Claire
130,500
134,250
-2.8%
73
90
-18.9%
West
Jackson
NA
118,500
NA
12
-33.3%
West
La Crosse
155,000
138,900
+11.6%
45
59
-23.7%
West
Monroe
129,500
122,000
+6.1%
36
28
+28.6%
West
Pepin
NA
NA
NA
NA
NA
West
Pierce
143,500
156,000
-8.0%
30
25
+20.0%
West
St. Croix
140,000
150,000
-6.7%
61
62
-1.6%
West
Trempealeau
140,000
NA
NA
17
+88.9%
12
-41.7%
West
Vernon
West
Regional Total
NA
135,000
98,250
NA
134,000
+0.7%
7
368
Median Price
11/2011
11/2010
394
-6.6%
Sales
Region
County
% Change
Northeast
Brown
144,500
131,950
+9.5%
159
142
+12.0%
Northeast
Calumet
117,500
140,000
-16.1%
24
23
+4.3%
Northeast
Door
145,000
182,500
-20.5%
41
45
-8.9%
Northeast
Fond du Lac
106,500
123,950
-14.1%
60
62
-3.2%
Northeast
Green Lake
NA
112,500
NA
12
-25.0%
Northeast
Kewaunee
63,450
135,250
-53.1%
14
12
+16.7%
Northeast
Manitowoc
96,500
120,000
-19.6%
48
41
+17.1%
Northeast
Marinette
78,250
97,000
-19.3%
40
26
+53.8%
Northeast
Menominee
NA
NA
NA
NA
NA
Northeast
Oconto
99,900
122,500
-18.4%
29
25
+16.0%
Northeast
Outagamie
124,500
119,125
+4.5%
98
82
+19.5%
Northeast
Shawano
78,700
90,450
-13.0%
17
24
-29.2%
Northeast
Waupaca
141,500
117,500
+20.4%
31
36
-13.9%
Northeast
Winnebago
122,950
113,500
+8.3%
113
106
+6.6%
Northeast
Regional Total
118,950
125,000
686
636
-4.8%
11/2011
Median Price
Region
County
Central
Adams
Central
11/2011
11/2010
11/2010
% Change
+7.9%
Sales
% Change
11/2011
11/2010
% Change
106,000
89,000
+19.1%
19
37
-48.6%
Clark
94,500
NA
NA
15
+87.5%
Central
Juneau
65,500
78,000
-16.0%
19
23
-17.4%
Central
Marathon
116,900
99,900
+17.0%
92
71
+29.6%
Central
Marquette
NA
79,900
NA
19
-68.4%
Central
Portage
149,500
130,000
+15.0%
28
25
+12.0%
Central
Waushara
95,000
75,000
+26.7%
17
17
0%
Central
Wood
99,900
93,000
+7.4%
31
39
-20.5%
Central
Regional Total
95,000
+15.8%
110,000
227
239
-5.0%
Page 3
Median Price
Region
County
North
Ashland
North
Barron
North
11/2011
11/2010
Sales
% Change
11/2011
11/2010
% Change
NA
NA
NA
+14.3%
132,000
126,950
+4.0%
57
42
+35.7%
Bayfield
90,000
124,000
-27.4%
19
16
+18.8%
North
Burnett
109,950
49,900
+120.3%
48
19
+152.6%
North
Douglas
95,000
78,950
+20.3%
35
16
+118.8%
North
Florence
NA
NA
NA
NA
NA
North
Forest
NA
NA
NA
+50.0%
North
Iron
NA
NA
NA
-55.6%
North
Langlade
NA
62,500
NA
10
-60.0%
North
Lincoln
118,500
118,500
0%
20
16
+25.0%
North
Oneida
139,000
144,450
-3.8%
45
36
+25.0%
North
Polk
126,500
133,500
-5.2%
49
48
+2.1%
North
Price
NA
69,750
NA
14
-50.0%
North
Rusk
NA
123,000
NA
14
-50.0%
North
Sawyer
260,000
275,000
-5.5%
21
13
+61.5%
North
Taylor
NA
NA
NA
-11.1%
North
Vilas
222,500
195,000
+14.1%
42
33
+27.3%
North
Washburn
140,000
135,850
+3.1%
27
+70.4%
North
Regional Total
132,000
123,000
+7.3%
Statewide Median Price

11/2011
134,000
11/2010
46
429
336
+27.7%
Statewide Sales
% Change
137,000
-2.2%
11/2011
3,829
11/2010
3,334
% Change
+14.8%
Page 4
Wisconsin Regional Report

Median Price
YTD 2011
YTD 2010
Sales
Region
County
% Change
YTD 2011
Southeast
Kenosha
119,000
129,500
-8.1%
1,413
1,392
+1.5%
Southeast
Milwaukee
105,000
125,500
-16.3%
6,831
6,829
+0.0%
Southeast
Ozaukee
214,500
230,000
-6.7%
814
780
+4.4%
Southeast
Racine
108,500
130,000
-16.5%
1,681
1,555
+8.1%
Southeast
Sheboygan
109,900
121,500
-9.5%
799
809
-1.2%
Southeast
Walworth
144,000
162,000
-11.1%
1,014
935
+8.4%
Southeast
Washington
180,250
185,000
-2.6%
1,022
1,040
-1.7%
Southeast
Waukesha
220,000
233,000
-5.6%
3,401
3,255
+4.5%
Southeast
Regional Total
143,000
156,950
-8.9%
16,975
Median Price
YTD 2011
YTD 2010
YTD 2010
16,595
% Change
+2.3%
Sales
Region
County
% Change
YTD 2011
Milwaukee
Milwaukee
105,000
125,500
-16.3%
6,831
6,829
+0.0%
Milwaukee
Ozaukee
214,500
230,000
-6.7%
814
780
+4.4%
Milwaukee
Washington
180,250
185,000
-2.6%
1,022
1,040
-1.7%
Milwaukee
Waukesha
220,000
233,000
-5.6%
3,401
3,255
+4.5%
Milwaukee
Regional Total
153,500
165,000
-7.0%
12,068
Median Price
YTD 2011
YTD 2010
YTD 2010
11,904
% Change
+1.4%
Sales
Region
County
% Change
South Central
Columbia
128,750
140,000
-8.0%
484
475
+1.9%
South Central
Crawford
84,987
115,000
-26.1%
104
81
+28.4%
South Central
Dane
205,900
205,747
+0.1%
4,455
4,775
-6.7%
South Central
Dodge
100,500
118,500
-15.2%
693
707
-2.0%
South Central
Grant
87,000
99,500
-12.6%
261
255
+2.4%
South Central
Green
120,000
126,750
-5.3%
338
290
+16.6%
South Central
Iowa
115,000
136,000
-15.4%
172
176
-2.3%
South Central
Jefferson
140,000
150,000
-6.7%
685
667
+2.7%
South Central
Lafayette
82,250
84,500
-2.7%
98
88
+11.4%
South Central
Richland
95,000
89,950
+5.6%
107
116
-7.8%
South Central
Rock
92,000
100,000
-8.0%
1,463
1,517
-3.6%
South Central
Sauk
129,900
145,000
-10.4%
587
528
+11.2%
South Central
Regional Total
156,900
162,500
-3.4%
YTD 2011
9,447
YTD 2010
9,675
% Change
-2.4%
Page 5
Median Price
Region
County
West
Buffalo
West
YTD 2011
YTD 2010
Sales
% Change
YTD 2011
YTD 2010
% Change
95,250
85,000
+12.1%
94
98
-4.1%
Chippewa
117,400
121,500
-3.4%
607
631
-3.8%
West
Dunn
119,009
129,400
-8.0%
464
417
+11.3%
West
Eau Claire
128,000
130,450
-1.9%
1,094
1,178
-7.1%
West
Jackson
112,000
95,500
+17.3%
129
117
+10.3%
West
La Crosse
141,000
139,900
+0.8%
863
1,003
-14.0%
West
Monroe
116,000
114,800
+1.0%
360
399
-9.8%
West
Pepin
73,000
119,000
-38.7%
74
96
-22.9%
West
Pierce
137,100
150,000
-8.6%
334
364
-8.2%
West
St. Croix
142,000
160,000
-11.2%
880
889
-1.0%
West
Trempealeau
114,000
107,000
+6.5%
169
166
+1.8%
West
Vernon
107,500
119,900
-10.3%
131
-0.8%
West
Regional Total
129,500
133,800
-3.2%
130
5,198
Median Price
YTD 2011
YTD 2010
5,489
-5.3%
Sales
Region
County
% Change
YTD 2011
Northeast
Brown
137,000
139,000
-1.4%
1,949
1,991
-2.1%
Northeast
Calumet
134,380
149,900
-10.4%
334
377
-11.4%
Northeast
Door
170,000
192,500
-11.7%
398
374
+6.4%
Northeast
Fond du Lac
112,000
120,000
-6.7%
684
714
-4.2%
Northeast
Green Lake
71,000
87,625
-19.0%
81
112
-27.7%
Northeast
Kewaunee
101,500
113,450
-10.5%
93
132
-29.5%
Northeast
Manitowoc
81,250
95,000
-14.5%
566
574
-1.4%
Northeast
Marinette
79,700
85,500
-6.8%
350
319
+9.7%
Northeast
Menominee
240,650
NA
NA
18
+157.1%
Northeast
Oconto
101,000
95,500
+5.8%
384
398
-3.5%
Northeast
Outagamie
125,900
130,000
-3.2%
1,419
1,361
+4.3%
Northeast
Shawano
79,900
90,000
-11.2%
304
305
-0.3%
Northeast
Waupaca
89,662
97,000
-7.6%
400
393
+1.8%
Northeast
Winnebago
118,000
120,000
-1.7%
1,312
1,367
-4.0%
Northeast
Regional Total
119,000
125,000
-4.8%
8,292
8,424
Median Price
YTD 2011
% Change
-1.6%
Sales
Region
County
Central
Adams
89,950
100,000
-10.0%
308
321
-4.0%
Central
Clark
75,000
74,950
+0.1%
169
130
+30.0%
Central
Juneau
72,500
84,000
-13.7%
183
257
-28.8%
Central
Marathon
115,000
123,100
-6.6%
989
996
-0.7%
Central
Marquette
97,950
95,000
+3.1%
138
149
-7.4%
Central
Portage
134,950
134,500
+0.3%
420
449
-6.5%
Central
Waushara
95,000
115,000
-17.4%
195
256
-23.8%
Central
Wood
90,000
96,500
-6.7%
519
576
-9.9%
Central
Regional Total
107,000
YTD 2010
YTD 2010
111,250
% Change
-3.8%
YTD 2011
2,921
YTD 2010
3,134
% Change
-6.8%
Page 6
Median Price
Region
County
North
Ashland
North
YTD 2011
YTD 2010
Sales
% Change
YTD 2011
YTD 2010
% Change
79,000
90,000
-12.2%
131
122
+7.4%
Barron
110,000
115,000
-4.3%
617
612
+0.8%
North
Bayfield
120,000
125,000
-4.0%
181
201
-10.0%
North
Burnett
127,500
136,950
-6.9%
440
342
+28.7%
North
Douglas
102,750
107,000
-4.0%
374
403
-7.2%
North
Florence
NA
NA
NA
+12.5%
North
Forest
122,000
105,000
+16.2%
73
73
0%
North
Iron
111,000
155,000
-28.4%
53
43
+23.3%
North
Langlade
74,000
81,800
-9.5%
184
179
+2.8%
North
Lincoln
98,500
97,500
+1.0%
250
244
+2.5%
North
Oneida
136,900
150,000
-8.7%
435
498
-12.7%
North
Polk
103,500
113,400
-8.7%
569
552
+3.1%
North
Price
97,500
94,000
+3.7%
150
137
+9.5%
North
Rusk
95,000
85,000
+11.8%
108
139
-22.3%
North
Sawyer
180,000
155,000
+16.1%
247
259
-4.6%
North
Taylor
85,000
97,500
-12.8%
103
102
+1.0%
North
Vilas
177,000
189,000
-6.3%
363
341
+6.5%
North
Washburn
118,000
146,000
-19.2%
325
+9.2%
North
Regional Total
115,000
120,000
-4.2%
Statewide Median Price

YTD 2011
133,000
YTD 2010
355
4,642
4,580
+1.4%
Statewide Sales
% Change
141,600
-6.1%
YTD 2011
47,596
YTD 2010
48,005
% Change
-0.9%
Page 7

Home Sales Continue To Grow As Median Prices Moderate

Uploaded by

Copyright:

Available Formats

Home Sales Continue To Grow As Median Prices Moderate

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Home Sales Continue To Grow As Median Prices Moderate

Uploaded by

Copyright:

Available Formats

Date:

Home Sales Continue to Grow as Median Prices Moderate

Wisconsin Monthly Housing Statistics Report - November 2011

Months Supply of Inventory

Inventory of Homes for Sale

Median Sales Price

Median Sales Price

Inventory and Affordability

Wisconsin REALTORS Association 608-241-2047

Wisconsin Regional Report

Statewide Median Price

Wisconsin REALTORS Association 608-241-2047

Wisconsin Regional Report

Statewide Median Price

Wisconsin REALTORS Association 608-241-2047

You might also like