Home sale prices surge in Kenosha and Racine counties

The median prices of homes sold in Kenosha County and Racine County has increased dramatically this year, according to the latest data from the Wisconsin Realtors Association.

Median home sale prices were up 31.6 percent in Kenosha County in May to $148,250 and up 15.6 percent during first five months of the year to $122,000.

Median home sale prices were up 14.3 percent in Racine County in May to $133,700 and up 14.5 percent during the first five months of the year to $115,000.

Those price increases far outpace the increase in home prices in the entire eight county southeastern Wisconsin region during the same time period. Median home sale prices in the region were up 4.6 percent in May to $160,000 and were up 3.6 percent during the first five months of the year to $145,000.

Only two counties in the region have had home sales price declines this year. Median home sale prices in Washington County were down 6.0 percent in May to $168,000 and down 0.4 percent during the first five months of the year to $169,900. Median home sale prices in Sheboygan County were down 1.5 percent to $127,900 and were down 5.7 percent for the first five months of the year to $115,000.

Despite the rise in prices in the region, sales remain down this year in all eight counties. The number of homes sold in the region in May were down 9.9 percent to 2,390 and the number of homes sold for the first five months of the year were down 9.2 percent to 8,732.

Kenosha County has attracted several businesses in recent years from Illinois, which could be contributing to the home sale price increase there. Kenosha County’s housing market is also influenced by the Chicago housing market, said John Horning, executive vice president of Brookfield-based Shorewest Realtors.

“The Chicago market has been doing well,” Horning said. “As they do well some of the buyers push out into the outer counties. You can get more home for the money (in Kenosha County than in the Chicago area).”

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