The NW Wisconsin market is continuing it’s hot hot hot pace with another month of increased sales price. Buyer competition drives prices higher; sellers benefit from reduced market times.
If this has you thinking about selling, contact Jean to start the selling process.
New listings last month were up 7% from last April of 2020. In May, new listings are down 9% from May of 2020. So, the supply continues to be outpaced by buyer demand.
The average sale price in May was up 17% from a year ago. Naturally, that leads to questions about affordability. Fortunately, low interest rates have kept affordability in check.
We know that buyers are feeling the squeeze of low inventory, but on the flip side, sellers are reaping the benefits. Sellers are also enjoying shorter time on market at 98 days on average—a drop from last year’s 123 days.
Pricing your home carefully. While you may think an ultra-high listing price can be negotiated down to your ideal sale price later on, this typically isn’t the case. One of the most surprising things some sellers don’t know is that pricing your home too high can actually hurt your home sale in the long run.
It’s important to price your home reasonably from the beginning. This will help you get the best price at closing, potential multiple offers, and it may cut down the amount of time your home spends on the market.
While you may understand the importance of a sweet-spot listing price, it can still be difficult to determine what that price is. That’s why it’s important to work with a real estate agent who understands the market and your home’s assets. Together, we can come up with a number that makes you feel confident and excited about selling your home.
Needless to say it’s a great time to sell in NW Wisconsin. Minong, Gordon, Barnes, Solon Springs, Danbury, Trego, Spooner, Hayward, and other communities. Buyer demand is high.
If you own a lake home, waterfront lot, or cabin and are considering selling, please contact me.