Sales down but prices up for state housing market

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Home sales in Wisconsin were down 11.3 percent in March and 8.5 percent in the first quarter, but average home sale prices rose 1.9 percent to $136.500 in March, year-over-year, and prices were up 4.2 percent in the first quarter compared to the first quarter of 2013, according to the latest report from the Wisconsin Realtors Association.

The cold winter and early spring weather likely contributed to slower sales levels, Realtors say.
“Even with spring officially arriving in the middle of March, the spring selling season has been slow to gather steam,” said Steve Lane, WRA board chairman. “We are hopeful that the spring thaw will jump-start the selling season that traditionally gains momentum in the second quarter.”

In southeastern Wisconsin, home sales were down 15.3 percent in March and 10.4 perent in the first quarter, but average home sale price was up 2.1 percent in March to $144,000 and up 4.1 percent in the first quarter to $135,000, according to the WRA report.

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