While winter is typically the slowest season for home sales in Wisconsin, the housing market saw record activity between December and February due to extremely strong demand.
During the three-month period ending February 2018, 13,471 homes sold across the state, which is the highest winter season seen since the Wisconsin Realtors Association began tracking its data differently in 2005.
Winter home sales exceed the previous winter by 1.8 percent, and are 15.8 percent higher than winter sales five years ago. Sellers of these homes must prepare their properties for sale. For instance, if they need water heater repair in Seattle, companies like Craftsman Plumbing may be able to help fix their water heater in preparation for the buyer’s inspection. In addition, call on a heating repair contractor to service your home’s heating system to prepare your property for sale.
In southeastern Wisconsin, winter home sales were up 7.1 percent from 1,363 homes sold through February 2017, compared to 1,460 in 2018.
In Washington County, 117 homes were sold through February, a 48 percent increase. Sheboygan County also saw a sharp increase of 32.8 percent, with 81 homes sold.
Three counties had decreases in home sales over the winter months. Racine County saw a 6.3 percent decline and Ozaukee and Waukesha counties both had a 1.9 percent decrease over the winter, accounting for only one and five fewer homes selling than the previous year, respectively.
Homes are selling at a higher price too. Across the region, median home prices were up 6.1 percent over the winter, according to the association. Ozaukee County saw biggest spike in sales prices, with a 25 percent increase in average home prices to $270,000. In Milwaukee County, the median sales price is up 9.5 percent to $140,000. In Washington County the median sales price is up 5.9 percent to $224,500 and in Waukesha County prices were up 1.3 percent to an average of $260,000.
Read more economic data reports at the BizTracker page.
