Sheboygan County Monthly Market Update - January 2024

Sheboygan County Monthly Market Update - January 2024

My name is Markus Savaglio, your local realtor in Sheboygan Falls. Today I wanted to bring you a quick housing update on Sheboygan county for January of 2024.

By this time last year, we had a total of 1333 homes listed for sale and currently we have 1161. That's a decrease of just under 13%. 78 homes successfully closed, a 7% decrease over the 84 that closed in December of 2022, but a 6% increase over the 73 homes that sold in November. Additionally, 45 of the 73 closed that sold at or above the list price, with the median list price being $254,000 and a closed sales price of $255,000. The median sales price has increased almost 9% between November and December of this year. If you're a buyer in this market and you want to get into a new home, December was a bit of a mixed bag. It had almost two times the amount of sales as new listings and the months of inventory is down 32% compared to last month and down 23% compared to December of last year. However, the median days on market to a sale is 20, which is an increase of about a week compared to where we were last month.

Additionally, if you're in the higher end, I've been seeing many properties selling at a considerable discount, 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 grew more in your favor last month, with even less listings for sale compared to 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 you are not overpricing your home, because we are seeing homes that are coming 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 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. Real Estate brokered by EXP Realty and this has been your January market update.

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