May 2017 Home Sales Slightly Up – But Not for Brown County, WI

Mostly home sales did slightly increase across the board for May 2017 in Wisconsin, but not in Brown County. Brown County, WI had a decrease by 11.%. May of last year saw 363 homes sale closings, while this past May only 322 home sales. And if you look for the year to date number, Brown County is still lagging behind. This is according to the Wisconsin Realtors Association, the WRA.

For the YTD of 2016 there were 1,316 homes sales, while this YTD number is sitting behind at 1,229 – that’s a 6.6% drop in homes sales for all of Brown County, WI. 

While the decline in home sales from last year might make you cringe, let’s talk about the median home sale price, shall we? 

For May 2016 the median home sale price was $156,400, while May 2017 was at $174,000. Talk about an increase in price! That’s an 11.3% increase in home value. As for the YTD, it’s not quite as severe, but there’s still an above inflation rate with home values. The median home sale price YTD for 2016 was $154,200, while the YTD for 2017 is $164,100. 

With home sales decreasing while home prices are increasing, does this make you think another housing bubble is building? I guess we’ll find out.