August 2011 Home Sales Statistics Released

On September 26, the Wisconsin Realtors Association (WRA) released home sales statistics for August 2011. In St. Croix County, WRA reported 97 sales during the month compared to 65 sales one year ago (+49.2%). WRA estimated the median sales price of homes sold during August in St. Croix at $148,000 compared to $164,900 one year ago (-10.2%). Across the state, 5,422 sales occurred in August 2011 compared to 4,135 sales one year ago (+31.1%). The median sales price for homes sold in Wisconsin during August 2011 was $139,000 compared to $150,000 one year ago (-7.3%).

Year-to-date statistics for 2011 were also released by WRA. An estimated 630 homes have been sold in St. Croix County this year (January-August) compared to 688 sales year-to-date in 2010 (-8.4%). The 2011 year-to-date median sales price of $141,000 is 13.1% below the 2010 year-to-date price of $162,250. Statewide, there have been 5.9% fewer sales in 2011 (January-August) compared to 2010 (34,856 v. 37,040). The year-to-date median sales price in Wisconsin is estimated at $132,900 compared to $142,500 in 2010 (-6.7%).

St. Croix Valley: Polk, St. Croix, and Pierce counties comprise Wisconsin’s St. Croix Valley region. All three counties are located along the Wisconsin-Minnesota border, and two of the counties, St. Croix and Pierce, help comprise the 13-county Twin Cities metro area that boasts a population of 3.3 million residents. Home sales in Polk County during August 2011 were off 20.8% compared to one year ago (57 sales versus 72 sales in August 2010). The median price of homes sold in Polk during August was $80,000 compared to $95,950 one year ago (-16.6%). Thirty-two homes were sold in August in Pierce County compared to 30 homes one year ago (+6.7%). The median sales price in Pierce for August 2011 was $147,320 compared to $139,900 one year ago (+5.3%). Year-to-date (January-August) home sales in Polk are 4.4% below sales activity over the same time period in 2010 (393 v. 410 in 2010). The year-to-date median price of homes sold in Polk is $96,300 compared to $106,000 for the same time period in 2010 (-9.2%). In Pierce County an estimated 248 homes have been sold between January and August of this year compared to 289 sales in 2010 (-14.2%). The 2011 year-to-date median price of homes sold in Pierce is $127,500 compared to $149,000 in 2010 (14.4%).

“The monthly median sale price in St. Croix during 2011 has ranged from a low of $127,500 in February to $151,000 in July,” said William Rubin, executive director of St. Croix Economic Development Corporation. Except for a drop from July to August, the monthly median price in St. Croix has risen steadily since February. The 2011 year-to-date median price now stands at $141,000. That’s a long way from 2007 when the median price was approaching $200,000. I believe 2011 demonstrates a rebound in housing activity in St. Croix County.”

St. Croix County’s median sales price for August 2011 and the year-to-date median price (January-August) both remain above WRA’s estimates for the west region and state totals. The 2011 year-to-date median price in the west region is estimated at $128,500 (a decline of 3.7 percent from the 2010 year-to-date median price of $133,500) and the year-to-date statewide median price is $132,900 (a decline of 6.7 percent from the 2010 year-to-date median price of $142,500).