Northwestern Wisconsin’s Real Estate Market: Update

In comparing this calendar year with last calendar year-to-date, the condition of the area’s real estate market seems to be improved! At this time last year, 101 homes had sold, with an average sale price of $141,192. After digging into what has happened this year so far, 131 homes have sold with an average sale price of $171, 286. That shakes out to the following: we’ve sold 23% more homes with the average sale price being 18% higher.

If you’re trying to get your arms around “what defines our market area”, we embrace real estate from the Grantsburg, Siren, Webster, Danbury, Webb Lake, Spooner and Minong areas. It’s a large piece of geography to cover, but we love it all!

Before you go popping any corks, bear in mind that this is a small sample and can be greatly skewed by a few sales. Here’s the work we have ahead: there are 603 homes on the market right now with an average list price of $222,970. That’s about an 18 month supply. If we follow the Japanese business philosophy of Kaizen and practice continuous improvement, we should be well on our way to popping a cork sooner than later. – Wanda Boldon