It's time for your weekly real estate update. My name is Markus, your local realtor right here in Sheboygan Falls and this is your seven day housing update.
We saw a total of 35 new homes hit the market, 38 properties that sold and 22 properties ended up doing price reductions. This week ended the 16 week streak of more new homes for sale than homes that sold, which has been slowly chipping away at the housing shortage in our area. Amounts of inventory is still under two and a balanced market is 6.
So if you're considering selling, be sure to be realistic in your pricing as overpriced homes have been sitting much longer on the market. So it's important to price it right the very first time.
Now, if you're a buyer, it's not easy. Be prepared to compete in multiple offer situations. Our team has been seeing on average one out of every three offers that we write get accepted. So don't expect to get an accepted offer on the first try.
Let me know what you think in the comments below. And until next week, I'm Markus Savaglio and this has been your weekly market update.
