Home sale prices in Northwestern Wisconsin increased during October. The price gains happened despite a rise in interest rates that brought mortgage costs to the highest levels in 22 years. Here’s the latest from the Wisconsin Realtors Association©, along with our local insights!
Statewide, the median home sale price in October was $280,000. Barron County’s median home sale price was also $280,000 in October. Rusk County’s October median home price was $245,000. Across the board, these were the highest median prices for any October on record.
A low inventory of homes for sale is the story behind rising home prices. Wisconsin had 5,932 home sales in October, about 400 less than October 2022. Barron County had 67 home sales, 19 less than a year ago. The pace of sales remained steady, with Barron County homes going under contract in about 44 days, on average.
Rusk County had 27 sales, outpacing October 2022 by 5 transactions. Rusk County also had faster-than-normal sales, with homes going under contract in just under 30 days, on average.
Northwestern Wisconsin home sellers continue to have the upper hand in this market. However, sellers need to avoid the temptation to over-price their home. About one-third of Barron County homes were sold for less than the asking price.
Home buyers are motivated, but they are price-conscious and seeking the best value for the money! Homes in good condition that are priced attractively draw the most attention from buyers.
If you are thinking about selling your home, start with our free home valuation! We will show you the current market value of your home and provide suggestions to boost its sales potential. There is no fee for this consultation, and no obligation.
Whether you are buying or selling a Northwestern Wisconsin home, we’re ready to help you! Six Lakes Realty is a locally-owned family business with over 45 years of experience. Contact us today for friendly, hometown service!
Six Lakes Realty
Office: (715) 924-4806