Sheboygan County Monthly Market Update - May 2024

Sheboygan County Monthly Market Update - May 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 May of 2024.

April had a total of 110 new listings. That's an increase of just over 14% from the 96 homes that listed in March, but a 1% decrease from the 111 homes that listed in April of 2023. By this time last year, we had a total of 345 homes listed for sale 34% and currently we have 333. That is a decrease of just under three percent. 54 homes successfully closed, a 14% decrease over the 63 that closed in April of 2023 and a decrease over the 82 homes that sold in March. Additionally, 41 of the 54 that clothes sold at or above the list price, with the average list price being $259,000 and a close sales price of $270,000. The median sales price has dropped almost 6% between March and April of this year, returning to December levels.

So if you're a buyer in this market and you want to get into a new home, April was a good month. New listings were up almost 15% from last month, but months of inventory is down the same percentage compared to 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.

Now if you're a seller in this market, it remains on your side, the lack of inventory sitting at just over one month, 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 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, breakdown your goals, and to make a strategy to navigate the challenges and the 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 May market update.

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