Sheboygan County Monthly Market Update - April 2024

Sheboygan County Monthly Market Update - April 2024

My name is Markus Savaglio, your local realtor in Sheboygan Falls and today I wanted to bring you a quick housing update on Sheboygan County for April of 2024.

March had a total of 96 new listings, an increase of just over 39% from the 69 homes that listed in February and a 29% increase from the 74 homes that listed in March of 2023.

By this time last year, we had a total of 234 homes listed for sale and currently we have 223. That's a decrease of just 4%.

82 homes successfully closed, a 49% increase over the 55 that closed in March of 2023, but a whopping 110% increase over the 39 homes that sold back in February. Additionally, 52 of the 82 that closed sold at or above the list price, with the average list price being $311,000 and a closed sales price of $315,000. The median sales price has dropped almost 16% between February and March of this year, returning to those January levels.

So if you're a buyer in this market and you want to get into a new home, March was a good month. New listings were up almost 40% from last month, but months of inventory is down another 3% compared to last month and down 10% compared to March of last year. This resulted in more options but still plenty of competition. So it's important to have confidence and understanding of the market and to work with an agent that has the same.

If you're a seller, the market remains on your side. The lack of inventory is sitting at just over one month and that is creating an exceptional opportunity for sellers to get better prices, better terms and to dictate the process more than ever before. But like last month, you still need to be realistic and work within the confines of the market to make sure that you are not over pricing your home because we are still seeing homes come back to the market after appraisals don't meet the sale price.

So if you've been thinking about buying or selling real estate, we'd love to sit down with you to talk about your plans, breakdown your goals, and make a strategy to navigate the challenges and opportunities of today's real estate market.

I'm Markus with Savaglio and Co Real Estate brokered by Exp Realty.

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