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Tight Inventories in March Push Prices Up and Continue to Drive a Seller’s Market

Posted: 04.24.18

Madison, WI - The lack of homes for sale in March caused existing home sales to drop and prices to rise statewide, according to the most recent analysis by the Wisconsin REALTORS® Association. However, some local counties saw large increases in the number of homes sold in March compared to March of last year. 

“While the tight inventories statewide have led to a drop in sales, locally some of our counties saw double-digit increases in March,” said Brenda Barnhardt, REALTORS® Association of Northwestern Wisconsin Executive Vice President. 

Compared to March of last year, Trempealeau County had a 83.3% increase in number of homes sold, according to the most recent analysis by the Wisconsin REALTORS® Association. Additionally, Jackson County saw a 36.4% increase.

According to the WRA, REALTORS® are helping people buy homes, but sales would be much higher if more homes were available for sale. The state has just 4 months of inventory statewide, but in the heavily urbanized metropolitan areas, there are only 3.1 months of available supply, making for a strong seller’s market in more urban parts of Wisconsin. In contrast, the rural counties are more balanced with 6.2 months of housing supply in March. 

“We continue to be in a seller’s market, so as we finally enter the spring and summer months, it will be even more important for sellers to be ready to move quickly and work with an experienced REALTOR®,” said Dan Lawler, RANWW Board President. 

The REALTORS® Association of Northwestern Wisconsin is the professional trade association that all professional REALTORS® residing within the association jurisdiction belong to. The association provides educational opportunities for its members, is active in local, state and national advocacy efforts, engages in community outreach through charitable giving, operates its own private foundation to help homeowners in need and remains a positive force for the members they serve.

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