Home prices rise in state and region

The prices of homes sold in September rose in all of Wisconsin and also in the southeastern part of the state, according to the latest data from the Wisconsin Realtors Association.

Median home sale prices in southeastern Wisconsin were up 6.7 percent, compared to a year ago, to $160,000, during September. Statewide, median home sale prices were up 3.1 percent during the month to $148,700.

Year-to-date median home sale prices are up 4.6 percent in southeastern Wisconsin to $159,000, and prices are up 2.4 percent statewide to $148,500.

“Much like the rest of the U.S., median home prices have grown at a healthy, sustainable pace this year,” said WRA president and CEO Michael Theo.

However the number of homes sold in the state was down 0.2 percent in September and is down 3.4 percent year-to-date. In southeastern Wisconsin the number of homes sold in the region rose 1.0 percent in Setpember to 2,187, but year-to-date sales in the region are down 5 percent compared to the first nine months of 2013.

“Although home sales are slightly lower than last year, it’s important to recognize how far we’ve come since emerging from the Great Recession,” said Dan Kruse, chairman of the WRA board of directors. “To be only slightly lower than last year’s solid market suggests a relatively healthy market for housing in the state.”

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