Wisconsin Home Sales Fall Slightly in Early Autumn 

Madison –Despite another strong summer home sale season around the state, sales of existing homes during the third quarter of 2000 failed to top the record third quarter of 1999, according to the most recent report from the Wisconsin Realtors® Association (WRA) on the statewide home resale market.

Third quarter sales of existing homes in Wisconsin for 2000 were estimated to be 24,650* units sold; a 4.9% decrease over the 1999 third quarter figure of 25,925. Nationally, home sales over the same period were down 3.3%, while the Midwest saw a decrease of 4.4 % over 1999’s third quarter total.

“While third quarter sales in most areas around the state were strong, they have the dubious distinction of following a legend,” says WRA President Joan Seramur. “The legend I am referring to is the outstanding all-time record third quarter of 1999 to which the number this year and years to come will be compared. Thus, while we see drops in many areas statewide, it is more of a reflection of how good 1999 was as opposed to a negative statement about 2000. Records or not, it’s hard to say that sales have been anything but strong.”

“Given that presidential election years tend to throw a lot of uncertainty into the marketplace,” says William Malkasian, WRA executive vice president, “sales up to this point for Wisconsin have exceeded expectations.”

Percentage changes in multiple listing service sales for the third quarter 2000 vs. the third quarter of 1999 for selected counties around Wisconsin include increases in Kenosha County +7.1%, LaCrosse County +4.1%, Sheboygan County +3.0%, St Croix County +3.0%, Racine County +2.1% and Winnebago County +1.5%. Washington County was unchanged. Decreases in sales were seen in Fond Du Lac County –1.0%, Milwaukee County –1.2%, Rock County –3.1%, Eau Claire County –4.6%, Brown County –5.6%, Walworth County – 6.1%, Waupaca County –7.6%, Outagamie County –9.2%, Waukesha County -11.92%, Dane County –14.5%, and Ozaukee County –15.82%.

“A mixed bag of higher prices, lower mortgage rates and removal of pre-election uncertainty, could point to a interesting fourth quarter,” says Malkasian. “The biggest limiting factor in many areas continues to be the short supply of homes for sale, especially for entry-level housing.”

“Also key to any fourth quarter is the weather,” says Seramur. “We have been spoiled the last few years; good weather has kept many buyers in the market right up to mid-December. These buyers tend to find November and December a much more relaxing time to find a home.”

“The median price of an existing single-family home in Wisconsin for the third quarter of 2000 was $122,500; a 5.7% increase over the 1999 third quarter figure of $115,900. Third quarter prices in the Midwest have risen 4.6% to $126,400 in 2000, while the United States has seen an increase in the median home price of 5.1%, to a level of $142,600.

Comparative percentage changes in median price for the third quarter 2000 vs. 1999’s third quarter by selected counties around Wisconsin include increases in: Eau Claire County +11.2% to $109,800, LaCrosse County +11.0% to $106,000, Fond Du Lac County +11.0% to $98,800, Outagamie County +9.6% to $115,800, St. Croix County +7.8% to $143,200, Ozaukee County +7.6% to $200,000, Racine County +7.0% to $111,000, Brown County +6.7% to $121,800, Winnebago County +6.7% to $98,100, Milwaukee County +5.6% to $105,500, Dane County +5.2 to $151,000, Waukesha County +5.0% to $181,900, Sheboygan County +4.5% to $103,200, Waupaca County +3.6% to $86,300, Kenosha County +3.5% to $117,900, Walworth County +3.0% to $128,800, Rock County +3.0% to $97,600. The median price decreased in Washington County -1.4% to $145,000.

The Wisconsin Realtors® Association is one of the largest trade associations in the state, representing over 12,000 real estate brokers, sales people and affiliates statewide.

*Note: Sales estimates for the state are provided by the National Association of REALTORS® which seasonally adjusts quarterly sales figures.

Home | Education | Products & Services | Public Affairs | Legal Services | REALTOR® Resources | Find A REALTOR®
Consumer Resources | Become a REALTOR® | Contact Us | Help | myWRA

Copyright 1998 - 2008 Wisconsin REALTORS® Association. All rights reserved.
    Privacy Policy | Terms of Use