The new housing stats for the beginning of the 2023 year are in! Last year Green Bay, WI ended with low housing inventory and higher home sale prices. So far this year, it’s more of the same. And it’s been projected to continue along the same lines for the 2023 year. So what are the stats for January 2023 in the Green Bay, WI real estate market and really all of Wisconsin??
According to the WRA (Wisconsin Realtors Association):
- Wisconsin existing home sales fell 33.8% in January 2023 relative to January 2022.
- The median price of homes that closed in January rose 8.5% over that same 12-month period to $250,000. The median home price in Brown County, WI was higher at just under $277,000
- Mortgage rates have fallen from peak levels in October 2022 but remained relatively high in January 2023 at 6.27%.
- Inventories remained very low at just 1.9 months of available supply, which kept upward pressure on home prices. IT IS STILL A SELLER’S MARKET.
- New listings are down 26.2% compared to January 2022, and total listings are 16.2% lower than their levels 12 months earlier.
To put this all simply: it is still a sellers market in all price ranges. Single family homes in Green Bay, WI and De Pere, WI, and Appleton, WI and ALL OF WISCONSIN are still selling at a quick pace and for a premium amount. The BEST strategy a buyer can do is to talk with a local real estate agent / Buyer’s Agent.
Ready to talk to a buyer’s agent? We’d LOVE to work with YOU