Six Lakes Realty

Home Buyers are Seeking Value in Northwestern WI

Northwestern WI home

Northwestern Wisconsin real estate experienced brisk sales this spring! Northern WI home sales increased 37.9% during April, compared to a year ago. The Wisconsin REALTORS© Association reports that year-over-year home sales were stronger in rural Northern, Western and Central Wisconsin than in urbanized markets. Still, all statistical locations saw double-digit increases in transaction volume.

Rising home inventory allowed growth in sales activity. Statewide, new listings increased 13% in April 2024 compared to the prior year. In Barron County, listings jumped 16.5% higher between April 2024 and May 2024. This is good news for home buyers, but we remain shy of a “normal” market. This is keeping home prices elevated.

As buyers grapple with higher home prices and interest rates, they are casting a wider net in their home search, looking for the best value for the money. Rural home demand is strong, but financial concerns are making buyers selective.

In Barron County, homes spent an average of 30 days on the market during May 2024. The median list price was $260,722. About 48% of homes sold for more than the list price. Roughly 21% sold for the list price. About 30% sold for less than list price.

Neighboring Rusk County had similar trends, with 45% of homes selling for more than the list price, and 18% selling at the list price. About 36% sold for less than the list price.

Properties that are in good condition, and priced attractively for their location and features, are getting the best offers. We still have a “seller’s market,” but improved home inventory means more choices for buyers! You don’t want to miss summertime real estate opportunities in Northwestern Wisconsin!

When you are buying or selling Northwestern Wisconsin real estate, turn to the local experts! Six Lakes Realty is a locally-owned family business with over 45 years of experience. Contact us today for friendly, hometown service!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806

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