(The Center Square) – People continue to pay a premium for homes across most of Wisconsin.

The latest Wisconsin Realtors Report, this time for November, shows a slight drop in home sales compared to November 2024, though sales continue to grow since January. It also shows the median price for a home in Wisconsin crept-up another few thousand dollars.

“Existing home sales [were] down 9.2% year-over-year, the first monthly decline since May,” Realtors wrote in their report. “Year-to-date sales are up 1.5%. Median prices rose 4.8% to $325,000 in November, while inventory grew 3.7%.”

More than 5,000 homes sold in November, and again more than half of those sales happened in either southeast Wisconsin or in the Madison/Dane County area. Those two parts of the state accounted for 53% of all homes sold in the state.

Though the Realtors note the year-to-year sales drop off was larger in urban areas across the state.

The median price of $325,000 is also a statewide number. Once again, the Madison-area in south central Wisconsin saw the most expensive homes last month. The median price there hit $374,900, while the median price in southeast Wisconsin was $335,500.

The Realtors’ report shows that most of the homes sold in Wisconsin this year are less than $350,000.

Realtors president Tom Larson said he sees some good news in the numbers from November.

“While affordability remains a challenge, we did see progress in November, and there are some promising trends. Mortgage rates continue to trend downward, and the annual rate of home price appreciation averaged just 5.5% through the first 11 months of the year,” Larson said in a statement.

“We hope these trends continue and lead to sustained improvements in affordability in 2026.”