Home Sales Up In August, Capping Off Busy Summer For Wisconsin Realtors

Sales of existing homes in Wisconsin were up 3 percent in August compared to last year according to the state’s realtors association, capping off the busiest summer season in a decade.

Exactly 7,575 home sales were recorded in August, with the median price jumping up by nearly 3 percent to $161,500.

Acording to Mike Theo — the president and CEO of the Wisconsin Realtors Association — June, July, and August account for one-third of annual sales.

Theo said every region of the state saw strong sales this year. He also said that there have been “good, historically low interest rates and ample inventory,” although he said that realtors are a little concerned by the inventory numbers.

As fewer homes are put up for sale that means they’ll sell more quickly and possibly for higher prices.

Realtors also have their eye on the Federal Reserve, which seems poised to hike short-term interest rates next month — a move that would also affect long-term rates like mortgages.