Housing market rebounds following sluggish winter
While home sales were sluggish during the first half of the year, the numbers have rebounded throughout the state, including central Wisconsin.
The harsh winter brought home sales around the state down by 4.9 percent compared to the same period in 2013, said Steve Lane, chairman of the Wisconsin Realtors Association.
The WRA released a home sales report last week, which also shows median prices stabilized in June.
“Winter home sales were tough here, too, but it’s picked up,” said Brian Slinkman, branch manager at First Weber Realtors, Wisconsin Rapids.
While the WRA report shows the number of Wood County homes sold in June 2014 was less than June 2013, Slinkman said several months of market statistics are a better gauge of trends.
“Overall, sales are much better this year than last year,” Slinkman said. The average home price in Wisconsin Rapids is about $100,000 compared to $93,400 in 2013, he said.
Marshfield homes are selling at a good pace in 2014 compared to 2013, said Rita Blenker, Realtor at Century 21 Gold Key Realty, Marshfield.
“The past winter was one of the worst we’ve had,” Blenker said about real estate sales also rebounding in the Marshfield area following the protracted winter months.
The average selling prices for Marshfield area homes also has increased, Blenker said. She said more buyers working with her office are looking for homes within the $100,000 to $200,000 range.
In June 2013, the median home price in Wood County was $83,750 while the June 2014 median price is $107,000.
“Home prices are good, and the market is solid,” Blenker said. The average house price in 2013 was about $123,000, which has increased to more than $125,000, she said.
The housing market in Stevens Point also has rebounded from the winter, said Fred Steffen, Realtor at RE/MAX Realty Associates, Stevens Point.
“It’s coming back, but it’s taking its time,” he said.
Statistics compiled by Steffen of Stevens Point area sales in June show the median home price was $149,900 compared to $149,500 in June 2013. The WRA median prices for Portage County in June were $141,200 and $140,450 for June 2013.