Wisconsin real estate sales have significant increased. Thus, making 2015 its best home sales after a decade.
The Olympian reports that home sales in Wisconsin swelled up to 11.4 percent. A 5.1 percent increase in median sale price for 2015 which was pegged at $155,500 comapred to 2014's $148,000. The chairman of the Wisconsin Realtors Association, K.C. Maurer, says that more than 7,800 more homes were sold in 2015 compared to 2014 He emphasized that it was the best in 10 years. It was noted that an 8.9 percent sales rise on existing homes for December 2015 compared to the previous year.
Maurer adds that the positive impact was experienced statewide with every region in double-digit margins. The year 2005, which was before the recession, closed 78,125 homes. The year 2015 closed 76,693 sales compared to last year's 68,857 homes sold. President and chief executive, Michael Theo, says that the lack of inventory was the only factor that kept the sales from skyrocketing. Very few foreclosed properties were seen as one of the causes for low inventory. The monthly average inventory for 2015 was estimated to be at 47,900.
FDL Reporter adds the end-of-year report of Wisconsin Realtors Association showed Northeast Wisconsin having the most sales for existing homes in the state in 2015 with 13,883 closings. The First Weber Realtors manager in Oshkosh, Gail Schwab, says the factors such as better lending tools, increase in demand, low interest mortgage rates (below 4% for 30 years) and consumer confidence have contributed to the good figures. She notes that Winnebago County experienced healthy gains with 14.7 percent increase, which were the kind that they wanted to see.
Steve Klaperich of Klapperic Real Estate in Fond du Lac says that buyers should buy now while interest rates have not yet increased. If they wait for this coming summer they might experience higher prices and stiff competition.
Hopefully, not just Wisconsin will experience the significant increase in home sales but other states as well.
What do you think about Wisconsin's increase in real estate sales for 2015?
