Manitowoc County reflects a similar pattern as the state of Wisconsin when it comes to the April Real Estate Report.
According to the Wisconsin Realtors Association, low inventories continue to hamper sales and increase prices as the state enters the prime homebuying season.
New listings are down nearly 33% while home sales last month were 32.5% lower than the same time a year ago.
Also, the median home price increased almost 7% to $283,000 over the same 12-month period.
Here in Manitowoc County, the year-to-date Median Price rose 11% to $176,000 but Sales were off 26% to 212 through the first 4 months.
April numbers for price compared to one year ago increased to $190.000, up more than 20% while Sales fell 25% to 57 from a year ago.
The WRA Report pointed out the Wisconsin labor market remains very tight, with the statewide unemployment rate at 2.5% in March and the labor force participation rate at just 64.6%.
That has contributed to a labor shortage, which is pushing incomes higher.
New estimates of the state’s median family income show an increase of nearly 6% over the last 12-month period.
