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

Wisconsin Real Estate Market Report from the JWP Group in Northern WI!

Thursday, June 15, 2023   /   by Julie Winter-Paez

Wisconsin Real Estate Market Report from the JWP Group in Northern WI!

As a continued theme we continue to lag in New listings.. The month of May was no different.

I continue to review the entire MLS and we continue to be down NEW listings year to date by 26% and Closed listings by 26%.
The average listing price continues to rise and year to date it is up by 7+% BUT the average selling price is only up by 2% So, this implies NEGOTIATION room for buyers.
Average days on market continue to be down as does the month supply of inventory which continues to imply a seller's market.
The one stat that is UP is PENDING inventory which is sales under contract waiting to close. So, will this equal a softening of the total closed listing either in the month of June or year to date.. We will see soon!

I also took a deeper dive into the off and on water markets and as I thought the waterfront market has been hit pretty darn hard.

  • Closed sales are down by OVER 40%
  • New listings are down by 37%
  • Average listing price is UP by 21% almost three times as much as the entire MLS 
  • Average selling price is up by 12% which is 5 times as much as the entire MLS
  • And; lastly, the days on market is down by 20% which is also more than the entire MLS

I think because supply and demand continue to rule our market and because cyclically as we head into summer many buyers focus solely on waterfront purchases.

The off water home market is a bit of a tamer version of the entire MLS.

  • Closed sales are down by only 17% year to date
  • New listings are down by 18% year to date
  • Average list price is up by 13% versus 7% for the entire MLS
  • Average sale price is up 10% versus 2% showing less negotiations in this particular market segment 
  • And; lastly, the average days on market is down a more conservative 10% 

Please take a peek at the charts below and attached and reach out if you have any specific 
market questions..

Market Report May 2023.png

Off Water Homes.PNG

On Water Homes.PNG

JWP Group Featured Listings: Click here!

Find Homes Now: www.BuySellLoveUpNorthWI.com

Find Out What Your Home Worth: Click here!

Northwoods Informational Site: www.thejwpgroup.com