Wisconsin real estate sees new highs and lows in recent report

WISCONSIN (CIVIC MEDIA) – The Wisconsin Realtors Association (WRA) released its May 2025 real estate report, revealing the latest data in home sales and affordability.

In the most recent rendition of the report, home sales fell for a third straight month. Affordability improved 5.1 percent over the past 12 months, while the average 30-year fixed mortgage rate fell 24 basis points to 6.82 percent over the same period.

Year-to-date home sales fell 2.7 percent compared to the first five months of 2024, and the median price rose 6.8 percent to $315,000 over that same period but remains low by historical standards. Existing home sales fell for a third straight month, but the pace of decline moderated in May. Specifically, closed sales fell just 2.1 percent over the past 12 months, which is well below the annual slide in home sales seen in recent months:  Relative to May 2024, the median price rose 4.3% to $330,000.

The statewide inventory picture has improved. While new listings fell 1.5 percent in May compared to that same month last year, total listings rose 8.5 percent to just over 22,000 homes on the market. All urban classifications saw improvement in months of supply. Metropolitan counties with large cities as well as micropolitan counties with smaller cities and towns remained strong seller’s markets, with just 3.5 and 4.1 months of supply, respectively.

However, rural counties improved to 5.7 months of supply in May 2025, which is close to the six-month benchmark, indicating a balanced market.