Northwestern Wisconsin home buyers have more to choose from these days, thanks to a boost in the number of homes for sale. Statewide, home inventories have improved. In higher price ranges, such as $500,000 and up, the market is starting to achieve a balance.
The key word is “starting!” Wisconsin homes priced under $350,000 are in short supply, and it remains a seller’s market in many areas of Wisconsin. However, we are seeing variety in our local market conditions.
In Barron County, the pace of home sales slowed as home inventories improved. On average, Barron County homes spent 40 days in the market during July 2024. But sales activity spiked, with 90 homes sold. This is the largest transaction volume we’ve seen in 13 months. July’s median sales price of a Barron County home was $240,000, which is a contrast to the $270k-$300k medians seen during May and June.
Barron County homes saw some price adjustments during July, which explains the softening in the median sales price. About 36 homes sold for less than the asking price, while the rest sold at the asking price, or higher.
Rusk County’s median home sale price was $185,000 during July, which is consistent with the home price ranges seen during May and June. But in July, most Rusk County sellers accepted sales prices that were less than their original asking price.
Looking ahead, there is a real possibility of lower mortgage rates this fall, which could bring more buyers to the Northwestern Wisconsin real estate market. If you have been waiting to buy or sell a Northwestern WI home, now’s the time to talk about it! We offer home valuations free of charge, and we provide complete buying and selling guidance.
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
Email: john@sixlakesrealty.com