For the third consecutive month, the median home sale price in Wisconsin reached $300,000, according to August statistics by the Wisconsin REALTORS Association©. Home inventory improved by 13.3% on a year-over-year basis. Statewide, homes averaged 62 days on market, on par with averages from August 2022.
In Northwestern Wisconsin, real estate sales slowed a bit during August. Barron County homes spent an average of 66 days on market in August, compared to 57 days during August 2022. Barron County’s median home sale price reached $278,000, an increase of 15.8% from a year ago. Home inventory remained about the same as last year.
Despite higher mortgage interest rates sidelining some buyers, most homes sales in Barron County had good price support. During August, 42 listings sold for more than the list price, and 15 sold at the list price. About 27 properties sold for less than the asking price.
In Rusk County, the median home sale price was $197,000 in August 2023, a decrease of 14.3% compared to a year ago. Meanwhile, the inventory of property for sale increased about 25%. The pace of sales sped up from a year ago, with homes spending about 67 days on market, shaving 8 days off the market time from August 2022.
Price support in Rusk County is balanced, with about ¼ of all properties selling above list price during August, and another ¼ selling for the full list price. The other half sold for less than the list price.
If you’re a property owner, there’s good news: buyer demand is still outpacing supply in many areas of Northwestern Wisconsin. If you have thought about selling your home or land, there’s still time to reach qualified, motivated buyers while conditions are in your favor!
Start by getting your home or land valuation report from us. It’s free, and there are no strings attached! 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