Wisconsin Market Statistics, July 2008

Browsing through the Wisconsin Realtor Association website recently, I came across a number of very interesting facts about the current real market in Wisconsin.

The Wisconsin real estate market is more stable than many in the nation, and we continue to outperform many states. During 2007, the average home price in Wisconsin remained essentially stable, rising .2 percent. There are areas of declining prices in Wisconsin, but as a rule, home are worth more than they were three years ago, even in the areas of decline.

Locally, the statistics show this stability. During the first quarter of 2008 in Green County, 62 homes were sold for an average price of $140,000. During the first quarter of 2007, 67 homes were sold for an average price of $135,300. Slightly lower sale, slightly higher prices.

This stability in prices with the softening sales is good news for buyers. It demonstrates that our real estate market is still vital and alive, still holding steady in value despite what the nation media is saying. There is no such thing as a national housing market. As with weather, the forecast can only be local and site-specific. In our area, as a general rule, the market is not experiencing the declines of other parts of the nation.