The following is a breakdown of our November 2021 housing market — Nationally, Statewide, and hyper-locally.
- Summary: Existing home sales increased slightly compared to last year.
The most recent monthly report, by the National Association of REALTORS®, was just released entitled, “Existing-Home Sales Continue Upward, Increasing 1.9% in November,” (by Quintin Simmons, published December 22nd, 2021). The following bullet points are additional highlights from this news release.
- “Existing-home sales rose 1.9% in November from October to a seasonally adjusted annual rate of 6.46 million.”
- “The median existing-home sales price rose 13.9% year-over-year to $353,900.”
- “From one year ago, the inventory of unsold homes decreased 13.3% to 1.1 million – equivalent to 2.1 months of the monthly sales pace.”
- “Existing-home sales in the Midwest ticked up 0.7% to an annual rate of 1,520,000 in November, a 0.7% drop from a year ago. The median price in the Midwest was $260,100, a 9.0% jump from November 2020.
- Summary: The state of Wisconsin has just about kept pace with last year’s sales; the Southeast outsold the other regions of the state, with the smallest margin of increased median sales price.
The Wisconsin REALTORS® Association, released their monthly market report with the headline, “November Existing Home Sales Remain Solid as Prices Continue to Rise.” Here are some additional key takeaways:
- “Wisconsin’s November existing home sales kept pace with the strong sales of a year earlier, falling just 0.8% over the 12-month period. The median price rose 7.6% to $240,000 over that same period.”
- “As we approach year-end, sales performance varied regionally on a year-to-date basis. The strongest sales were seen in the Southeast region, which is running 3.7% higher than last year.”
- “On a year-to-date basis, all regions have seen their median prices rise, with the Southeast region up by the smallest margin, up 6.8%, compared to the January-through-November period last year […]”
- “All measures of inventory fell over the past 12 months, including total listings, which were down 7%; new listings, down 1.9%; and months of available supply, down 10%.”
- Summary: Our metro-Milwaukee area generally saw a decline in new listings and closings in November 2021, in comparison to our record November last year. This was true too of my hyper-local (Lake Geneva – Delavan – Williams Bay) area.
Below are the Local Market Reports, by MetroMLS, for the Counties of Kenosha, Racine, and Walworth, as well as the Lake Geneva-Delavan-Williams Bay area, and their monthly blog post called Market Reports: November 2021, by Dan Zielinski of FlexMLS, reflecting our hyperlocal multiple listing service area based out of Metro-Milwaukee.
Active listings decreased 3.1% and sold listings went down 1.8% compared to this time last year. The Months of Supply of Inventory experienced a slight decrease, falling 1.3% compared to last November.by Dan Zielinski | December 14, 2021 | Metro MLS, FlexMLS
Other Updates to Consider
- “November 2021 Monthly Housing Market Trends Report,” by Sabrina Speianu, Realtor.com
- “The majority of Fed members forecast three interest rate hikes in 2022 to fight inflation,” by Maggie Fitzgerald, CNBC.
Sellers: I will vouch for the fact that there are still plenty of active buyers in the southeastern Wisconsin area. Interest rates are set to remain low until spring, so do not wait to list your home. Contact me or follow the link below if you would like a custom, free home valuation.
Your free, instant Home Valuation here: HomeValuationzByAnnie.com
Buyers: Please read this article by Maggie Fitzgerald of CNBC, “The majority of Fed members forecast three interest rate hikes in 2022 to fight inflation.” Interest rates are scheduled to rise in spring; if you’d like to take advantage of low interest rates, this is a good time to start. Please feel free to reach out!
All the best,
My November 2021
Speianu, Sabrina. “November 2021 Monthly Housing Market Trends Report.” Realtor.com®. December 23rd, 2021.
Simmons, Quintin, “Existing-Home Sales Continue Upward, Increasing 1.9% in November,” NATIONAL ASSOCIATION OF REALTORS®. December 23rd, 2021
Maggie Fitzgerald. “The majority of Fed members forecast three interest rate hikes in 2022 to fight inflation.” CNBC®. December 23rd, 2021.