If you need assistance, please call 715-891-1236

Julie's Northern Wisconsin Real Estate Market Report December 2022

Monday, December 26, 2022   /   by Julie Winter-Paez

Julie's Northern Wisconsin Real Estate Market Report December 2022

It's December, I can't believe another month has gone by and I just wanted to shoot you out some quick market stats on the end of the month of November and year to date where we are so far this year. These are stats from the entire nine county MLS in northern Wisconsin. So far this year, November was down about 209 new listings hit the market, which is about 21.7% down from last year. Year to date we've had 4,784 new listings which is only 9.7% down year to date. Closed listings, we had 305 in November, that's down about 23% from last November. And year to date we've had 3,781 closings which is down about 20% year to date over last year. Average listing price year to date is $240,823 which is up 13.94% from last year. Average selling price is $231,690 which is up 13.57% from last year. The average days on market is 117.65 which is down 3.98% from last year. And the average supply of month supply of inventory, which we talked about last month, is down to 4.28 months, which is down from 4.99. 

So while certain things are indicating that definitely the market is changing, interest rates have gone up, inventory is still incredibly low, buyers have pulled back, they're getting a little bit of their negotiating power back. But overall there are still some really strong market indicators up here in the Northwoods that the market hasn't completely shifted to a buyer's market. There are certain pockets of hot spots everywhere. 

And in my monthly news report I did share with my buyer clients that there was a sale that happened on County Highway X a couple of weeks ago, listed at $699,000, sold for $829,000 and sold for over $125,000 over listing price. So again, location, if it's moving ready where it sits on what lake and what body of water, what the type of frontage is and how finished and move and ready the house is, it all still matters. Whether you're a buyer or a seller, you need somebody out there who understands what's happening in the market so they can help guide you through the process. So if we can help you in any way, give us a call here at the JWP Group. We would love to guide you through and make you a new Northwoods neighbor. Otherwise, have a Merry Christmas and a Happy New Year and we will see you in 2023.

JWP Group Featured Listings: Click here!

Find Homes Now: www.BuySellLoveUpNorthWI.com

Find Out What Your Home Worth: Click here!