Business
High prices, fewer homes drive up Wisconsin home prices, drive down sales
The Center Square – Wisconsin’s high prices and lack of homes for sale looks to have finally cut sales off at the knees.
By Benjamin Yount · 2026-09-24T15:45:17.716Z
The Center Square – Wisconsin’s high prices and lack of homes for sale looks to have finally cut sales off at the knees.
The latest Wisconsin Realtors Report shows another jump in prices and a record low number of home sales.
"Existing home sales fell 8.3% in August compared to statewide closings in August 2025, reversing the upward trend in sales for June and July. This was due in part to record low affordability in the state. Tight inventories continued to put strong upward pressure on home prices. The median price rose to $362,000, which is a 7.1% increase over the past 12 months," the report states.
The report said strong sales numbers in June and July mean that Wisconsin real estate agents have still sold more homes through the first eight months of 2026 than they did in the first eight months of 2025.
"On a year to date basis, sales growth remained positive, growing 3.2% compared to the first eight months of 2025, and the median price rose 7.3% to $348,838," the report noted. "Both new listings and total listings grew at a modest pace over the last year, and months of inventory increased slightly to 4.4 months of supply."
The median price of $362,000 is the statewide median price. Local prices, as usual, differ greatly.
The report notes that the Madison area continues to have the most expensive median price at $420,000. Southeast Wisconsin has the second most expensive median price at $387,000. The report said the cheapest median home is in central Wisconsin at $280,000.
“Home prices are up by more than twice the rate of inflation over the last year, and this combined with the steady increase in mortgage rates since February is eroding affordability. This hits first time buyers especially hard since they rely heavily on financing to buy their first home. Hopefully we start seeing rates fall as we move into the off peak season for home sales," Realtors CEO Tom Larson said.
The report notes that there were 6,571 home sales in August, and 8,439 homes listed for sales. The average time on the market hit 69 days across Wisconsin.
"Both new listings and total listings grew at a modest pace over the last year, and months of inventory increased slightly to 4.4 months of supply. This indicates a seller’s advantage as the supply is well below the six month benchmark that signals a balanced housing market," the report added.
This story originally appeared on thecentersquare.com https://www.thecentersquare.com/wisconsin/article a6079d92 ecb9 4dd3 95c4 22700387e60b.html .