MADISON — The Wisconsin existing home market was on solid footing in the first quarter of the year and was on track to have strong sales in the spring and summer. That’s before the COVID-19 pandemic hit and severely constrained economic activity in the state. 

March home sales were strong, with closings of existing homes up 7.9% compared to March 2019, and median prices rising 12.2% to $207,500, according to the most recent analysis of existing home sales by the Wisconsin Realtors Association. 

This was the first time the March statewide median price exceeded $200,000, due in large part to the very tight inventory of homes for sale. 

There were just 3.6 months of available inventory in March, indicating a strong statewide seller’s market. On a year-to-date basis, comparing the first three months of 2020 to that same period in 2019, home sales rose 6.7%, and the median price rose 9.2% to $196,000.

The median price for Green County decreased by 6.7% to $168,950 with home sales staying the same.

The home sales for Lafayette County increased by 11.1% with the median price at $164,500.