State home sales dip in November

The number of homes sold in Wisconsin fell by 6 percent in November to 4,719, down from 5,020 in November of 2012, according to the latest Wisconsin Realtors Association report.

“Over the last two months, the housing market has definitely cooled from the red-hot pace that characterized the first three quarters of 2013,” said Steve Lane, chairman of the Wisconsin Realtors Association. “This was bound to happen since the base of comparison is 2012, and that was a very strong year for home sales.”

However, the number of homes sold in the state for the first 11 months of the year was up 11.1 percent to 64,899.

The average sales price of homes sold in the state rose in November and is up this year, according to the report. The median home sales price in the state was $136,000 in November, up 4.7 percent compared to November of 2012. For the first 11 months of the year the average sales price was $144,000, up 7.5 percent from the first 11 months of 2012.

“Although sellers would certainly prefer pries to increase faster, the more moderate rate of median price appreciation of 4.7 percent is healthy for the Wisconsin market,” said Michael Theo, president and CEO of the Wisconsin Realtors Association. “Wisconsin has enjoyed relatively mild swings in home prices relative to some of the more volatile regions of the country, and that stability keeps the dream of homeownership attainable for Wisconsin residents.”

In the eight-county southeastern Wisconsin area, sales were down 8.2 percent in November to 1,618 and prices were up 3.9 percent to $144,900.

November median home sale prices per county in southeastern Wisconsin:

Kenosha: $124,250, up 25.2 percent
Washington: $180,000, up 11.8 percent
Ozaukee: $215,000, up 9.4 percent
Racine: $114,900, up 4.4 percent
Milwaukee: $100,000, up 2.4 percent
Waukesha: $224,700, up 1.2 percent
Walworth: $162,000, down 3.3 percent
Sheboygan: $94,750, down 8.9 percent

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