Date

:
For Release:
For More Information Contact:

12/19/11
Immediately
Mike Theo, WRA President and CEO, 608-241-2047, mtheo@wra.org
or
David Clark, Economist, C3 Statistical Solutions and Professor of Economics, Marquette
University, 414-803-6537, dclark@c3stats.com

Home Sales Continue to Grow as Median Prices Moderate
MADISON, WI – November home sales in Wisconsin were well above last year, and the trend of declining prices
moderated somewhat, according to data released by the Wisconsin REALTORS® Association (WRA). Existing
home sales were up 14.8 percent in November relative to that same month last year, and the statewide median price
fell just 2.2 percent to $134,000 over that period.
“We are definitely closing out the year on a strong note,” said Rob Keefe, Chairman of the WRA Board of
Directors, noting that the seasonal pattern of home sales typically slows as winter approaches. “The strong market of
the last few months has pulled sales in 2011 nearly even with the 2010 level,” he said. Keefe noted that year-to-date
home sales through the end of November are now less than 1 percent below last year, and that is without any bump
from the federal government to stimulate existing home sales.
Home sales were up in four of the six regions of the state, with three of the six regions seeing their November home
sales grow more than 20 percent. The strongest region in the state was the North where sales rose 27.7 percent over
November 2010. This was followed by the South Central region, which was up 25.2 percent, and the Southeast
region, up 21.4 percent. The Northeast region was up a solid 7.9 percent, whereas November existing home sales fell
5 percent in the Central region and were down 6.6 percent in the West compared to November sales last year.
The statewide median price of existing homes fell 2.2 percent in November compared to November 2010, and yearto-date, median prices fell 6.1 percent. “This is clearly a buyer’s market, and while inventories are down from
October, they still remain high at more than 14 months,” said WRA President and CEO Michael Theo. “This means
buyers will be in the driver’s seat for the foreseeable future.” Regionally, there was some volatility with half the
regions showing median prices down: the Southeast down 9.7 percent, South Central down 2.6 percent and the
Northeast down 4.8 percent. The Western region was essentially flat, and median prices in the North and Central
regions were up 7.3 percent and 15.8 percent, respectively.
“The economy did get a little good news in November with an improvement in the national unemployment rate and
even an uptick in consumer confidence and consumer expectations,” said Theo. The national unemployment rate
improved to 8.6 percent in November, and the Wisconsin unemployment rate has also been trending downward
recently. In addition, the Conference Board’s Consumer Confidence Index improved, as did their Leading Economic
Indicator Index due in part to better consumer expectations. “These are both positive signals on the economy, but
they are very preliminary and it will take sustained improvements, including significant job growth, before many
homebuyers are comfortable diving back into this market,” said Theo. “However, if these trends continue, new
buyers will be greeted with very affordable housing in the state, with Wisconsin housing among the nation’s best
values.”
The WRA’s report showed that the November WRA Housing Affordability Index was at 242, meaning that the
family with median income can afford to buy 242 percent of the median-priced home in the state, given current 30year fixed-rate mortgage rates and a 20 percent down payment. Comparing Wisconsin’s index with a recent National
Association of REALTORS®’ Affordability analysis, Wisconsin housing was found to be more affordable than the
U.S., where the index was just under 200, as well as all of the four broad census regions, especially the Northeast
where the index was 163 and the West where the index was 165. “We’ve always known that you get a lot of home
for your money in Wisconsin, and that is especially true in this market,” said Theo.
The Wisconsin REALTORS® Association is one of the largest trade associations in the state, representing over 13,400 real estate brokers, sales
people and affiliates statewide. All county figures on sales volume and median prices are compiled by the Wisconsin REALTORS® Association
and are not seasonally adjusted. Median prices are only computed if the county recorded at least 10 home sales in the month. All data collected
by the Wisconsin REALTORS® Association are subject to revision if more complete data become available. Beginning in 2010, all historical
sales volume and median price data at the county level have been rebenchmarked using the Techmark system which accesses MLS data directly
and in real time. The Wisconsin Housing Affordability Index is updated monthly with the most recent data on median housing prices, mortgage
rates and estimated median family income data for Wisconsin.

1

Wisconsin Monthly Housing Statistics Report - November 2011
Provided by the Wisconsin REALTORS® Association
Report Criteria: Reflecting data through: November 2011 | State: WI | Type: Residential

Wisconsin - Statewide
Wisconsin

11/2010

11/2011

% Change

YTD 2010

YTD 2011

YTD % Change

New Listings

6,412

5,358

-16.4%

119,491

101,131

-15.4%

Closed Sales

3,334

3,829

+14.8%

48,005

47,596

-0.9%

137,000

134,000

-2.2%

141,600

133,000

-6.1%

Months Supply of Inventory

14.3

14.4

+0.7%

Inventory of Homes for Sale

61,161

61,216

+0.1%

Median Sales Price

Inventory of homes for sale includes residential single family, duplex, condo, and townhouse properties.

Current Month

Year-to-date

Historical Activity

Median Sales Price

New Listings

|

Sold Listings

Inventory and Affordability

The information used to create the November 2011 Housing Trends report was current as of 12/12/2011 6:09:00 PM. The information is subject to change due to the dynamic nature
of the WRA's housing statistics system, which is updated daily based on information present in local participating MLS (multiple listing service) systems.

Wisconsin REALTORS® Association · 608-241-2047

Page 1

Wisconsin Regional Report
Provided by the Wisconsin REALTORS® Association
Report Criteria: Reflecting data through: November 2011 | State: WI | Type: Residential
Median Price
11/2011

11/2010

Sales

Region

County

% Change

Southeast

Kenosha

122,500

137,000

-10.6%

114

89

+28.1%

Southeast

Milwaukee

100,000

102,450

-2.4%

528

436

+21.1%

Southeast

Ozaukee

200,000

261,250

-23.4%

67

54

+24.1%

Southeast

Racine

87,750

143,750

-39.0%

134

118

+13.6%

Southeast

Sheboygan

102,000

139,900

-27.1%

70

59

+18.6%

Southeast

Walworth

135,000

163,000

-17.2%

95

62

+53.2%

Southeast

Washington

180,000

192,075

-6.3%

101

70

+44.3%

Southeast

Waukesha

211,000

229,900

-8.2%

250

231

+8.2%

Southeast

Regional Total

138,500

153,300

-9.7%

11/2011

1,359

Median Price
11/2011

11/2010

11/2010

1,119

% Change

+21.4%

Sales

Region

County

% Change

Milwaukee

Milwaukee

100,000

102,450

-2.4%

528

436

+21.1%

Milwaukee

Ozaukee

200,000

261,250

-23.4%

67

54

+24.1%

Milwaukee

Washington

180,000

192,075

-6.3%

101

70

+44.3%

Milwaukee

Waukesha

211,000

229,900

-8.2%

250

231

+8.2%

Milwaukee

Regional Total

149,750

159,000

946

791

+19.6%

-5.8%

11/2011

Median Price
11/2011

11/2010

11/2010

% Change

Sales

Region

County

% Change

South Central

Columbia

123,000

115,000

+7.0%

46

35

+31.4%

South Central

Crawford

NA

NA

NA

6

6

0%

South Central

Dane

210,000

213,475

-1.6%

330

250

+32.0%

South Central

Dodge

90,000

140,950

-36.1%

67

42

+59.5%

South Central

Grant

100,000

68,000

+47.1%

23

15

+53.3%

South Central

Green

134,000

109,000

+22.9%

29

23

+26.1%

South Central

Iowa

113,500

121,385

-6.5%

14

22

-36.4%

South Central

Jefferson

129,900

134,450

-3.4%

52

46

+13.0%

South Central

Lafayette

72,000

NA

NA

10

8

+25.0%

South Central

Richland

79,000

NA

NA

11

8

+37.5%

South Central

Rock

95,000

91,000

+4.4%

117

104

+12.5%

South Central

Sauk

162,500

162,500

0%

49

43

+14.0%

South Central

Regional Total

152,900

157,000

-2.6%

11/2011

754

11/2010

602

% Change

+25.2%

Page 2

Median Price
Region

County

West

Buffalo

West

11/2011

11/2010

Sales

% Change

11/2011

11/2010

% Change

NA

73,900

NA

4

10

-60.0%

Chippewa

133,000

105,000

+26.7%

49

48

+2.1%

West

Dunn

136,250

130,000

+4.8%

38

32

+18.8%

West

Eau Claire

130,500

134,250

-2.8%

73

90

-18.9%

West

Jackson

NA

118,500

NA

8

12

-33.3%

West

La Crosse

155,000

138,900

+11.6%

45

59

-23.7%

West

Monroe

129,500

122,000

+6.1%

36

28

+28.6%

West

Pepin

NA

NA

NA

NA

7

NA

West

Pierce

143,500

156,000

-8.0%

30

25

+20.0%

West

St. Croix

140,000

150,000

-6.7%

61

62

-1.6%

West

Trempealeau

140,000

NA

NA

17

9

+88.9%

12

-41.7%

West

Vernon

West

Regional Total

NA
135,000

98,250

NA

134,000

+0.7%

7
368

Median Price
11/2011

11/2010

394

-6.6%

Sales

Region

County

% Change

Northeast

Brown

144,500

131,950

+9.5%

159

142

+12.0%

Northeast

Calumet

117,500

140,000

-16.1%

24

23

+4.3%

Northeast

Door

145,000

182,500

-20.5%

41

45

-8.9%

Northeast

Fond du Lac

106,500

123,950

-14.1%

60

62

-3.2%

Northeast

Green Lake

NA

112,500

NA

9

12

-25.0%

Northeast

Kewaunee

63,450

135,250

-53.1%

14

12

+16.7%

Northeast

Manitowoc

96,500

120,000

-19.6%

48

41

+17.1%

Northeast

Marinette

78,250

97,000

-19.3%

40

26

+53.8%

Northeast

Menominee

NA

NA

NA

3

NA

NA

Northeast

Oconto

99,900

122,500

-18.4%

29

25

+16.0%

Northeast

Outagamie

124,500

119,125

+4.5%

98

82

+19.5%

Northeast

Shawano

78,700

90,450

-13.0%

17

24

-29.2%

Northeast

Waupaca

141,500

117,500

+20.4%

31

36

-13.9%

Northeast

Winnebago

122,950

113,500

+8.3%

113

106

+6.6%

Northeast

Regional Total

118,950

125,000

686

636

-4.8%

11/2011

Median Price
Region

County

Central

Adams

Central

11/2011

11/2010

11/2010

% Change

+7.9%

Sales

% Change

11/2011

11/2010

% Change

106,000

89,000

+19.1%

19

37

-48.6%

Clark

94,500

NA

NA

15

8

+87.5%

Central

Juneau

65,500

78,000

-16.0%

19

23

-17.4%

Central

Marathon

116,900

99,900

+17.0%

92

71

+29.6%

Central

Marquette

NA

79,900

NA

6

19

-68.4%

Central

Portage

149,500

130,000

+15.0%

28

25

+12.0%

Central

Waushara

95,000

75,000

+26.7%

17

17

0%

Central

Wood

99,900

93,000

+7.4%

31

39

-20.5%

Central

Regional Total

95,000

+15.8%

110,000

227

239

-5.0%

Page 3

Median Price
Region

County

North

Ashland

North

Barron

North

11/2011

11/2010

Sales

% Change

11/2011

11/2010

% Change

NA

NA

NA

8

7

+14.3%

132,000

126,950

+4.0%

57

42

+35.7%

Bayfield

90,000

124,000

-27.4%

19

16

+18.8%

North

Burnett

109,950

49,900

+120.3%

48

19

+152.6%

North

Douglas

95,000

78,950

+20.3%

35

16

+118.8%

North

Florence

NA

NA

NA

NA

1

NA

North

Forest

NA

NA

NA

9

6

+50.0%

North

Iron

NA

NA

NA

4

9

-55.6%

North

Langlade

NA

62,500

NA

4

10

-60.0%

North

Lincoln

118,500

118,500

0%

20

16

+25.0%

North

Oneida

139,000

144,450

-3.8%

45

36

+25.0%

North

Polk

126,500

133,500

-5.2%

49

48

+2.1%

North

Price

NA

69,750

NA

7

14

-50.0%

North

Rusk

NA

123,000

NA

7

14

-50.0%

North

Sawyer

260,000

275,000

-5.5%

21

13

+61.5%

North

Taylor

NA

NA

NA

8

9

-11.1%

North

Vilas

222,500

195,000

+14.1%

42

33

+27.3%

North

Washburn

140,000

135,850

+3.1%

27

+70.4%

North

Regional Total

132,000

123,000

+7.3%

Statewide Median Price
11/2011

134,000

11/2010

46
429

336

+27.7%

Statewide Sales
% Change

137,000

-2.2%

11/2011

3,829

11/2010

3,334

% Change

+14.8%

Wisconsin REALTORS® Association · 608-241-2047

Page 4

Wisconsin Regional Report
Provided by the Wisconsin REALTORS® Association
Report Criteria: Reflecting data through: November 2011 | State: WI | Type: Residential
Median Price
YTD 2011

YTD 2010

Sales

Region

County

% Change

YTD 2011

Southeast

Kenosha

119,000

129,500

-8.1%

1,413

1,392

+1.5%

Southeast

Milwaukee

105,000

125,500

-16.3%

6,831

6,829

+0.0%

Southeast

Ozaukee

214,500

230,000

-6.7%

814

780

+4.4%

Southeast

Racine

108,500

130,000

-16.5%

1,681

1,555

+8.1%

Southeast

Sheboygan

109,900

121,500

-9.5%

799

809

-1.2%

Southeast

Walworth

144,000

162,000

-11.1%

1,014

935

+8.4%

Southeast

Washington

180,250

185,000

-2.6%

1,022

1,040

-1.7%

Southeast

Waukesha

220,000

233,000

-5.6%

3,401

3,255

+4.5%

Southeast

Regional Total

143,000

156,950

-8.9%

16,975

Median Price
YTD 2011

YTD 2010

YTD 2010

16,595

% Change

+2.3%

Sales

Region

County

% Change

YTD 2011

Milwaukee

Milwaukee

105,000

125,500

-16.3%

6,831

6,829

+0.0%

Milwaukee

Ozaukee

214,500

230,000

-6.7%

814

780

+4.4%

Milwaukee

Washington

180,250

185,000

-2.6%

1,022

1,040

-1.7%

Milwaukee

Waukesha

220,000

233,000

-5.6%

3,401

3,255

+4.5%

Milwaukee

Regional Total

153,500

165,000

-7.0%

12,068

Median Price
YTD 2011

YTD 2010

YTD 2010

11,904

% Change

+1.4%

Sales

Region

County

% Change

South Central

Columbia

128,750

140,000

-8.0%

484

475

+1.9%

South Central

Crawford

84,987

115,000

-26.1%

104

81

+28.4%

South Central

Dane

205,900

205,747

+0.1%

4,455

4,775

-6.7%

South Central

Dodge

100,500

118,500

-15.2%

693

707

-2.0%

South Central

Grant

87,000

99,500

-12.6%

261

255

+2.4%

South Central

Green

120,000

126,750

-5.3%

338

290

+16.6%

South Central

Iowa

115,000

136,000

-15.4%

172

176

-2.3%

South Central

Jefferson

140,000

150,000

-6.7%

685

667

+2.7%

South Central

Lafayette

82,250

84,500

-2.7%

98

88

+11.4%

South Central

Richland

95,000

89,950

+5.6%

107

116

-7.8%

South Central

Rock

92,000

100,000

-8.0%

1,463

1,517

-3.6%

South Central

Sauk

129,900

145,000

-10.4%

587

528

+11.2%

South Central

Regional Total

156,900

162,500

-3.4%

YTD 2011

9,447

YTD 2010

9,675

% Change

-2.4%

Page 5

Median Price
Region

County

West

Buffalo

West

YTD 2011

YTD 2010

Sales

% Change

YTD 2011

YTD 2010

% Change

95,250

85,000

+12.1%

94

98

-4.1%

Chippewa

117,400

121,500

-3.4%

607

631

-3.8%

West

Dunn

119,009

129,400

-8.0%

464

417

+11.3%

West

Eau Claire

128,000

130,450

-1.9%

1,094

1,178

-7.1%

West

Jackson

112,000

95,500

+17.3%

129

117

+10.3%

West

La Crosse

141,000

139,900

+0.8%

863

1,003

-14.0%

West

Monroe

116,000

114,800

+1.0%

360

399

-9.8%

West

Pepin

73,000

119,000

-38.7%

74

96

-22.9%

West

Pierce

137,100

150,000

-8.6%

334

364

-8.2%

West

St. Croix

142,000

160,000

-11.2%

880

889

-1.0%

West

Trempealeau

114,000

107,000

+6.5%

169

166

+1.8%

West

Vernon

107,500

119,900

-10.3%

131

-0.8%

West

Regional Total

129,500

133,800

-3.2%

130
5,198

Median Price
YTD 2011

YTD 2010

5,489

-5.3%

Sales

Region

County

% Change

YTD 2011

Northeast

Brown

137,000

139,000

-1.4%

1,949

1,991

-2.1%

Northeast

Calumet

134,380

149,900

-10.4%

334

377

-11.4%

Northeast

Door

170,000

192,500

-11.7%

398

374

+6.4%

Northeast

Fond du Lac

112,000

120,000

-6.7%

684

714

-4.2%

Northeast

Green Lake

71,000

87,625

-19.0%

81

112

-27.7%

Northeast

Kewaunee

101,500

113,450

-10.5%

93

132

-29.5%

Northeast

Manitowoc

81,250

95,000

-14.5%

566

574

-1.4%

Northeast

Marinette

79,700

85,500

-6.8%

350

319

+9.7%

Northeast

Menominee

240,650

NA

NA

18

7

+157.1%

Northeast

Oconto

101,000

95,500

+5.8%

384

398

-3.5%

Northeast

Outagamie

125,900

130,000

-3.2%

1,419

1,361

+4.3%

Northeast

Shawano

79,900

90,000

-11.2%

304

305

-0.3%

Northeast

Waupaca

89,662

97,000

-7.6%

400

393

+1.8%

Northeast

Winnebago

118,000

120,000

-1.7%

1,312

1,367

-4.0%

Northeast

Regional Total

119,000

125,000

-4.8%

8,292

8,424

Median Price
YTD 2011

% Change

-1.6%

Sales

Region

County

Central

Adams

89,950

100,000

-10.0%

308

321

-4.0%

Central

Clark

75,000

74,950

+0.1%

169

130

+30.0%

Central

Juneau

72,500

84,000

-13.7%

183

257

-28.8%

Central

Marathon

115,000

123,100

-6.6%

989

996

-0.7%

Central

Marquette

97,950

95,000

+3.1%

138

149

-7.4%

Central

Portage

134,950

134,500

+0.3%

420

449

-6.5%

Central

Waushara

95,000

115,000

-17.4%

195

256

-23.8%

Central

Wood

90,000

96,500

-6.7%

519

576

-9.9%

Central

Regional Total

107,000

YTD 2010

YTD 2010

111,250

% Change

-3.8%

YTD 2011

2,921

YTD 2010

3,134

% Change

-6.8%

Page 6

Median Price
Region

County

North

Ashland

North

YTD 2011

YTD 2010

Sales

% Change

YTD 2011

YTD 2010

% Change

79,000

90,000

-12.2%

131

122

+7.4%

Barron

110,000

115,000

-4.3%

617

612

+0.8%

North

Bayfield

120,000

125,000

-4.0%

181

201

-10.0%

North

Burnett

127,500

136,950

-6.9%

440

342

+28.7%

North

Douglas

102,750

107,000

-4.0%

374

403

-7.2%

North

Florence

NA

NA

NA

9

8

+12.5%

North

Forest

122,000

105,000

+16.2%

73

73

0%

North

Iron

111,000

155,000

-28.4%

53

43

+23.3%

North

Langlade

74,000

81,800

-9.5%

184

179

+2.8%

North

Lincoln

98,500

97,500

+1.0%

250

244

+2.5%

North

Oneida

136,900

150,000

-8.7%

435

498

-12.7%

North

Polk

103,500

113,400

-8.7%

569

552

+3.1%

North

Price

97,500

94,000

+3.7%

150

137

+9.5%

North

Rusk

95,000

85,000

+11.8%

108

139

-22.3%

North

Sawyer

180,000

155,000

+16.1%

247

259

-4.6%

North

Taylor

85,000

97,500

-12.8%

103

102

+1.0%

North

Vilas

177,000

189,000

-6.3%

363

341

+6.5%

North

Washburn

118,000

146,000

-19.2%

325

+9.2%

North

Regional Total

115,000

120,000

-4.2%

Statewide Median Price
YTD 2011

133,000

YTD 2010

355
4,642

4,580

+1.4%

Statewide Sales
% Change

141,600

-6.1%

YTD 2011

47,596

YTD 2010

48,005

% Change

-0.9%

Wisconsin REALTORS® Association · 608-241-2047

Page 7

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