Fast facts and stats on the housing market in the state of Wisconsin for the month of June 2022
- Still a major lack of houses for sale! Declining inventories continued to hinder sales while driving home prices higher. Existing home sales fell 11.1% in June 2022 compared to June 2021, and the median home sale price rose to $280k. Remember back in April of this year it was $265k…
- June is routinely the strongest month for sales in Wisconsin. This isn’t too far off for Brown County WI, Oconto County WI, Outagamie County WI, Calumet County WI, Kewaunee County WI or really most of Northeastern Wisconsin – June is a HOT month. Typically, June accounts for 11.6% of annual home sale closings in a typical year.
- Home sales in the first half of 2022 were 6.9% below the pace for the first six months of 2021. This shows how the inventory or homes for sale are not getting any better! Couple that with new listings for sale were down 13.5%, and total listings for Wisconsin were down 14.4% in June compared to June 2021.
- The average # of days on the market was 60 days – and if you’re in the Brown County WI, Oconto County WI, Outagamie County WI, Calumet County WI, Kewaunee County WI or really most of Northeastern Wisconsin, these houses a getting multiple offers well above asking price within a matter of DAYS.
- Affordability was down by significant margins in June due to rising mortgage rates, rapidly appreciating home prices and unchanged median family income in the state over the past 12 months. The 30-year fixed-rate mortgage was 5.52% in June, up from 2.98% a year earlier.
These facts were found on the WRA (Wisconsin Realtor Association) website.