According to the Wisconsin Realtors Association (WRA):
“Wisconsin sold 63,398 homes in the first nine months of 2017, slightly beating the record pace established in the third quarter last year, according to the most recent analysis of the existing housing market. Through three quarters, sales were up slightly, rising 0.4 percent compared to that same period in 2016. Median prices for the first nine months of the year rose 6 percent to $174,900, compared to the January-through-September period of 2016. Very tight inventories have constrained sales activity and pushed up prices throughout the year and also in the month of September. September sales were down slightly, falling 1.2 percent below September 2016, but median prices rose 4.8 percent to $175,000 over that period.”
So let’s break that down even further and just discuss Brown County, WI – meaning Green Bay, WI and De Pere, WI mostly.
Brown County September of 2016 had a median home sale price of $156,950. Fast forward to September 2017 and it’s now $165,000. That’s a 5.1% increase! Well above the rate of inflation. This is arguably due to the lack of inventory, which has been a recurring theme this entire year. Case in point: homes sales for September 2016 were 326. Homes sales September 2017 were 267. That’s a decrease of 18.1%!! Less homes are selling, but the ones that do are selling at a much higher price than only a year ago.
Thinking of selling your home? Now’s the time! Contact me for a home evaluation today!