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Wisconsin Real Estate Market Report September 16 2023

Tuesday, September 26, 2023   /   by Julie Winter-Paez

Wisconsin Real Estate Market Report September 16 2023

New listing continues to be on our face downward 361 new listings at the end of August compared to 2,072 year to date, both of them are down. While we look at pending sale, again these our sales that are currently under contract. We were actually up 33% for August year over year and up 13% year to date. When we look at closed sales, what we see is we are up 2.4%. So that is up for the first time we've seen in a while, down year to date 15.75%. But here is the interesting thing, average listing price is still up by 8% and average selling price is still up by over 4%. So even though we have compression on the side of new listings and current inventory, we still continue to see that price go up. Average days on market is down again we are still at about 70 days on average for a home to sale in northern Wisconsin. And our inventory continues to hover around five months supply of inventory out there. 

We are in a very unique time right now. Despite the fact that we are still down in inventory. We are still seeing that average price goes up some buyers are concerned as to what's going on as far as sellers are concerned as to why isn't my house selling like that? If you need guidance during this unique time that we're in, you need to be working with a local professional. Again, my name is Julie Paez. I'm a local realtor in northern Wisconsin and I help people just like you buy, sell and relocate to the beautiful Northwoods. So give us a call we would love to help you through the process.

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