October 2022 Housing Market Update

for the Lake Geneva Wisconsin Area Market and Beyond…

The following is a breakdown of October 2022 housing market data collected from trusted real estate resources, from national to local.


LOCAL AREA

Metro Multiple Listing Service, Inc


Metro MLS’s “Market Reports: October 2022

“In the four-county Milwaukee metropolitan area, active listings decreased 22.8% and sold listings dropped 29.9% compared to this time last year. The Months of Supply of Inventory experienced a 10.2% increase compared to last October.”

November 11, 2022 | Metro MLS, Dan Zielinski | ©2022 Metro Multiple Listing Service, Inc

Metro MLS’s “Local Monthly Market Reports

November 10, 2022 | Jean Patterson | ©2022 Metro Multiple Listing Service, Inc | Powered by RapidStats

Above are the October 2022 statistics for Kenosha, Racine and Walworth Counties, PLUS the Lake Geneva – Delavan – Williams Bay area, by Metro MLS, as well.


STATEWIDE

WRA-Logo-Outlines-1

Wisconsin REALTORS® Association


WRA’s Wisconsin Housing Stats: October 2022

“The October median price stood at $260,000. Home sales in October fell by the largest margin all year. Wisconsin housing inventory levels are at an all-time low since the WRA began tracking inventory data in 2009.”

November 22, 2022 | Copyright 1998 – 2022 Wisconsin REALTORS® Association. All rights reserved.

October 2022 Housing Statistics Infographic Report

Wisconsin REALTORS® Association | 4801 Forest Run Road | Madison, WI 53597 | 608.241.2047 | wra.org

Check out the WRA report above for an easily digestible version of the state’s market data.


National Association of REALTORS®

NAR’s “October 2022 Existing Home Sales Report

Existing-Home Sales Slumped 5.9% in October

“Existing-home sales […] fell 5.9% from September and 28.4% from one year ago. The median existing-home sales price rose to $379,100, an increase of 6.6% from the previous year.”

November 18, 2022 | Troy Green | © 2022 National Association of REALTORS®. All Rights Reserved.


COMPASS WISCONSIN PRESENTS:

Q3 2022 MARKET SNAPSHOTS – SOUTHEASTERN WI

Other Notable Market Updates:

Realtor.com®’s “October 2022 Monthly Housing Market Trends Report

November 3, 2022 | Sabrina Speianu and Danielle Hale | © 1995-2022 National Association of REALTORS® and Move, Inc. All rights reserved.

Take Aways:

Here to help you navigate through real estate from A to Z…

Buyers: While it may be discouraging to see that new listings are down, home prices are leveling out. Additionally, I will personally attest to there still being homes on the market. There are even some homes that have been on the market for months, which could provide a unique opportunity for buyers looking for a good deal. For example, sellers could be more negotiable in November and December if they’ve been on the market for a while and just want to close prior to the end of the fiscal year for tax purposes. With the recent decrease in interest rates too, it is still a good time to buy. Feel free to reach out.

Sellers: Home sales are uniformly down, in large part because the market needs more listings! With the holiday season upon us, it is typical to see a dip in real estate activity; however, because the housing supply is so low, there is still more demand than supply. By principle, with such low inventory, home prices will remain where they are, or increase, until supply meets demand. Basically: it is still a good time to sell, because there are still buyers looking with increasingly fewer options to chose from.. Let’s Connect!! I’d be happy to discuss specific data, answer any questions you may have or create a complimentary home valuation for you.

stay warm,

Annie Z.

Licensed Real Estate Agent
Compass WisconsinLake Geneva

262.248.4492 | www.COMPASS.com

Get your free, instant Home Valuation here: HomeValuationzByAnnie.com


My October 2022


Sources:

Hale, Danielle; Speaniu, Sabrina.October 2022 Monthly Housing Market Trends Report,” Realtor.com®. November 3, 2022.

Patterson, Jean. “Local Market Reports,” Metro Multiple Listing Service, Inc®. November 10, 2022.

Zielinski, Dan. “Market Reports: October 2022,” FlexMLS® & MetroMLS®. November 11, 2022.

Green, Troy, “Existing-Home Sales Slumped 5.9% in October,” National Association of Realtors®. November 18, 2022.

Existing-Home Sales Housing Snapshot,National Association of REALTORS®. November 18, 2022.

Wisconsin Housing Stats: October 2022,” Wisconsin REALTORS® Association. November 22, 2022.


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