Sheboygan County Monthly Market Update - February 2024

Sheboygan County Monthly Market Update - February 2024

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

January had a total of 58 new listings. That's an increase of just over 28% from the 47 homes that listed in December. But a 3% decrease from the 60 homes that listed in January of 2023. 68 homes successfully closed a 23% increase over the 55 that closed in January of 2023 but just under 13% decrease over the 78 homes that sold in December. Additionally, 45 of the 68 that closed sold at or above the list price with the median list price being $295,000 and a closed sales price of $297,000. The median sales price has increased almost 10% between December and January of this year. 

So if you're a buyer in this market and you wanna get into a new home, January was a bit of a mixed bag. New listings are up over 20% from last month. But the months of inventory is actually down 25% compared to last month. This was pushed lower by an increase in the amount of sales that we had. And it's also down 19% compared to January of last year. Median days on market to a sale is at 12, which is down about a week from where we were last month. 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 remains essentially the same compared to the beginning of last year. And it's creating an exceptional opportunity for sellers to get better prices, better terms and to dictate the process more than ever before. But 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 I've been seeing a lot of homes come back to the market after the appraisals don't meet the sale price. 

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

I'm Markus with Savaglio and Co. brokered by Exp Realty and this has been your February market update. 

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