for the Greater Lake Geneva Wisconsin Area
The following is a breakdown of June 2022 housing market data collected from trusted real estate resources nation wide.
METRO MILWAUKEE AREA
Active listings decreased 12.2% and sold listings dropped 13.7% compared to this time last year. The Months of Supply of Inventory experienced a 1.7% increase compared to last June.
July 13, 2022 | Dan Zielinski | ©2022 Metro Multiple Listing Service, Inc
COUNTYWIDE & LOCAL MUNICIPALITIES
Below are the June 2022 statistics for Kenosha, Racine and Walworth Counties, PLUS the Lake Geneva – Delavan – Williams Bay municipalities.
July 10, 2022 | Jean Patterson | ©2022 Metro Multiple Listing Service, Inc | Powered by RapidStats
Declining inventories hindered sales in June.July 18, 2022 | Copyright 1998 – 2022 Wisconsin REALTORS® Association. All rights reserved.
New listings were down 13.5% compared to June 2021.
Homes continued to move quickly.
Affordability was down due to several factors.
The median price rose 10.2% compared to a year ago.
Buyers: Look at the slides above and notice the difference in list price versus sold price. When you hear stories of buyers paying 25% over list price, please note, those stories are anomalies. That just does not happen often in this neck of the woods. Remember the foreclosure moratorium fear mongering last year? Well, there was no flood of foreclosure properties infiltrating the market; that story was not based in reality.
My point is: if you’re planning to purchase a home this year, don’t let outside influences change your path. Yes, inventory is low, but I’ve seen a lot more price reductions so far this July than I did the past two July’s. My advice would be to 1) Think positively 2) Be prepared (with your preapproval and savings), and 3) Stay up-to-date with your desired market, specifically. For more information, please feel free to reach out!
Your free, instant Home Valuation here: HomeValuationzByAnnie.com
Sellers: Right now, inventory is low. Additionally, interest rates will go up again; when it does, buyer demand is bound to dip. It is in your best interests to secure your next home prior to listing your current home on the market, or it might otherwise be very hard to find a place to purchase, simultaneously. The market will continue to favor sellers through the end of summer, in my opinion. My recommended timeline is ‘the sooner, the better.’ Contact me for your free home valuation.
Licensed Real Estate Agent
Compass Wisconsin – Lake Geneva
My June 2022