Before we share our market projections for Barron County, let’s take a quick look back at 2019. As of November 2019, Barron County was on track to beat 2018 sales volume, with 802 home sales completed. Once the December figures are in, we may come close to beating the all-time sales volume high we saw in 2017.
Meanwhile, 2019’s year-to-date median home price stands at $161,000, based on November’s data. This is the seventh consecutive year of rising home prices in Barron County!
Barron County home buyers and sellers are likely to see similar market trends in 2020. Here’s what we can reasonably expect:
1. Home demand will remain strong. As long as the economy stays on good footing, year-around home buyers, investors and vacation property buyers will be looking for Northwest Wisconsin real estate.
2. Mortgage interest rates will remain low throughout 2020. You can keep an eye on mortgage interest rate averages at FreddieMac.com.
3. The inventory of Chetek area and Barron County homes for sale will remain limited. This has been one reason behind the price increases in recent years; there’s simply more demand than supply, especially for well-kept homes under $200,000.
4. Market conditions will remain highly localized. Not all homes sell quickly; a home’s condition, location and amenities count. This is an important point to remember! Sellers should avoid over-pricing their home, and buyers should avoid paying too much. Always feel welcome to ask us for recent sales comparisons, so you can make informed decisions!
Whether you are buying or selling a Barron County home, Six Lakes Realty offers you the very best in local expertise! As a locally-owned family business with over 40 years of experience, we provide friendly, hometown service for all of your real estate needs. Give us a call today!
Six Lakes Realty
Office: (715) 924-4806