The number of home sales are down, and the prices are high according to the Wisconsin Realtors Association.
The organization released the statewide numbers for March and cite “historically weak inventories” as a reason for those trends.
In Manitowoc County, the number of homes sold plummeted when compared to March 2022.
57 homes were sold locally, compared to 73 last year, which is a near 22% drop.
Those homes are also selling for 21% more with a median price of $200,000 this year compared to $165,000 last year.
For comparison, the statewide average median price is at $272,500, which is up nearly 7% from last March’s price of $254,900.
Historically, Manitowoc County homes have stayed on the market for much shorter than the state average, but that was not the case in March.
The average home was sold in about 76 days, which is nearly 19% more than last March’s figure of 64, and only slightly less than the 78-day state average for last month.
