Home sales in Northern Wisconsin accounted for about 10% of all Wisconsin residential real estate transactions during July 2021. According to the Wisconsin Realtors Association, the median price of a Northern Wisconsin home increased by 14.4% compared to July 2020, reaching $215,389. On average, Northern Wisconsin homes are spending 79 days on market before going under contract.
Looking at Barron County, homes spent an average of just 65 days on market. Median home prices reached $215,500 in July 2021, a 2.6% increase from July 2020. We are still very much in a seller’s market. Barron County home inventory is 33% lower than it was a year ago, and we are among the fastest-selling markets in Northern Wisconsin.
Lean home inventory statewide has kept the pressure on Wisconsin home buyers. The total number of Wisconsin homes for sale was down 11% when comparing July 2021 to July 2020. This has enabled home prices to push higher on a year-over-year basis throughout most of the state.
Meanwhile, home buyers shouldn’t give up on the market! By keeping your mortgage pre-approval active, and continuing to save towards your down payment, you can be ready when the right property comes along. Keep your credit score in good shape, and avoid new debt that could decrease your home buying power.
If you own Northwestern Wisconsin property, ask us for a free home or land valuation! No strings attached and no pressure to sell.
Let us help you buy or sell Northwestern Wisconsin real estate! Six Lakes Realty is a locally-owned family business with over 40 years of experience. Call us today for friendly, hometown service!
Six Lakes Realty
Office: (715) 924-4806