Sheboygan County Monthly Market Update - June 2024

Sheboygan County Monthly Market Update - June 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 June of 2024.

May had a total of 163 new listings, a whopping increase of over forty-eight percent from the 110 homes listed in April, and an almost equally impressive percent increase from the 112 homes listed in May of 2023. By this time last year we had a total of 457 homes listed for sale and currently we have 496. That's an increase of just over 8% and the first time in two years with more new listings year to date than the year prior. 85 homes successfully closed, a 3% decrease over the 88 homes that closed in May of 2023 and an astonishing 57% increase over the 54 homes that sold in April.

Additionally, 59 of the 85 that closed sold at or above the list price, with the average list price being $275,000 and a closed sales price of $282,000. The median sales price has risen just over 6% between April and May of this year.

So if you're a buyer in this market and you want to get into a new home, May was a good month. New listings were up almost 50% from last month, and months of inventory are up slightly to 1.86 months. 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.

Now if you're a seller, the market remains on your side. The lack of inventory is sitting at just under two months and that's 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're not overpricing your home because we are seeing homes come back to the market after appraisals don't mean 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, breakdown your goals and create 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 June market update.

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