Wisdom and South Central Wisconsin Real Estate information

Posts tagged ‘Wisconsin’

The fence sitters are leaping over the fence

 

not usually a fence-sitter!

not usually a fence-sitter! (Photo credit: Esthr)

 

Fence-sitter

Fence-sitter (Photo credit: wynnr)

The Wisconsin Realtors Association has posted their report for June and it shows some phenomenal gains in the Wisconsin housing market. Check out the links below. It is rather inspirational. It looks like a great time to sell and with rising interest rates it is probably best to buy before rates get any higher. It looks like all of the fence sitters are getting of their fences.

https://www.wra.org/HSRJune2013/

WRA posts new report and sales and median homes sale price are up over last year with 21 months of sales growth.

Frank loyd wright

Frank loyd wright (Photo credit: Aikaterini Koutsi Marouda aka kotsifi)

The Wisconsin Realtors Association has released a new real estate market update.

Press Release and Report

MADISON, Wis. –Wisconsin existing home sales increased 3 percent in March, which is the 21st straight month of sales growth. Median prices grew 9.7 percent to $134,900 in March, compared to the same period last year, according to statistics released by the WRA. Sales during the first quarter were up 10.8 percent, and median prices rose 5 percent relative to the first quarter of 2012. 

Read the report at https://www.wra.org/HSRMARCH2013/

 

Evansville Real Estate Market for older 2 Story Homes (Wisconsin)

New Trail Around Lake Leota

New Trail Around Lake Leota (Photo credit: JohnE777)

Some great deals were found on the smaller 2 story homes in Evansville. The market analyzed was 2 story homes over 50 years old between 1,000 and 1,800 sq. ft.. Sales ranged from $31,000 to $160,000. Current listings range from $64,900 to $155,900. There is 9 months of inventory and 52% were bank owned sales and the REO inventory has been eliminated. 50% of the 6 sales in the last 3 months were bank owned. The average list price was $103,018 and the median list price was $109,000. The average sale price was $180,399 and the median sale price was $73,000. The odds of selling a home in the first month is 11%. Very competitively priced homes and discounted properties are selling the quickest. Current interest rates have minimized buydowns and concessions and most homes in the area sell with conventional financing. Marketing exposure time for the subject as derived from the MLS and historical data is estimated to be 3 to 6 months.

Some People have saved big in the 1 Story Reedsburg Market

Looking at downtown Reedsburg, Wisconsin, USA ...

Looking at downtown Reedsburg, Wisconsin, USA while travelling on Wisconsin Highways 23 and 33. Taken March 11, 2007 by myself. Cropped from the original. (Photo credit: Wikipedia)

Some people have gotten some great deals on newer 1 story homes in the city of Reedsburg.  There were 22 sales of 1 story homes under 1,400 sq. ft. above grade homes between 5 and 25 years of age in the last year ranging from $38,000 to $165,000. The median list price was $134,900 and the average list price was $126,650. There is currently 17 properties listed for sale ranging from $92,900 to $168,000. The average sale price was $113,565 and the median sale price was $119,000. There is 15 months of inventory, making it a buyers market. There are 2 bank owned properties for sale and REO sales made up 27% of sales and sold around 30% below market value. The average days on market was 162 and the median days on market was 111. The odds of selling a home in the first month is 11%. Very competitively priced homes and discounted properties are selling the quickest. Current interest rates have minimized buydowns and concessions and most homes in the area sell with conventional financing. Market exposure time for the subject as derived from the MLS and historical data is estimated to be 3 to 6 months, with discounted homes selling quicker.

Lake Kegonsa Homes

Sunset Over Kegonsa

Sunset Over Kegonsa (Photo credit: wackybadger)

Some people have gotten some pretty good deals on water front homes on Lake Kegonsa in the last year. There is still 15 months of inventory and prices have remained very reasonable with an incredible variety of sizes, styles, quality, and condition of homes. There were 16 sales ranging from $160,000 to $900,000. The average sale price was $423,393 and the median sale price was $387,000. Currently there are 13 properties for sale with list prices ranging from $289,000 to $1,890,000. The average list price was $550,677 and the median list price was $459,000. Sizes have ranged from 700 sq. ft. to monsters with as much as 8,148 total sq. ft..  For those on the market, absorption rates have remained steady all year with 1.33 homes selling per month. The odds of selling a home in the first month is around 6%. Competition has kept prices reasonable and now is the time to start searching before the spring thaw.

It has been a good year for real estate in Dane County this year

English: The Dr. Charles G. Crosse House in Su...

English: The Dr. Charles G. Crosse House in Sun Prairie, Wisconsin, a registered historic place. (Photo credit: Wikipedia)

It has been a good year for real estate in Dane County this year. Sales have increased 25% this year over the last year. Record low interest rates have helped to keep things moving along. Inventories have decreased and in some markets there is a shortage of homes. Over all prices have not increased and there is still a continual flow of bank owned inventory. Now is a great time to buy or invest. Most rental properties will easily cash flow. There has been a good stream of homes under $100,000 which would be good to purchase to rent and hold until the market picks up again as an investment. There is also plenty of opportunity to flip with returns as high as 50% possible. If you are looking to sell the odds of selling have increased greatly. Surrounding counties have also picked up. If you would like to see some stats click on Dave Stark’s news letter in the upper left blog roll and check out the most recent November news letter.

Dane County Quality Built Ranches on Acres of Land

If you have been thinking of getting away from it all on your own wonderful retreat you can find what you are looking for.

In the market defined as quality built 1 story homes less than 20 years old, between 1,800 and 2,700 sq. ft. finished above grade living area on lots between 5 and 40 acres. curent list prices range from $545,000 to $1,100,000. The average list price is $733,435 and the median list price is $725,000. Sales ranged between $512,000 and $945,000. The average sale price was $697,892 and the median sale price was 697,500. There is 14 months of inventory. The odds of selling a home in this market in the 1st month is 7%.

This is the above average quality market and there are still many lower priced listings with lots of potential to re sell in this price range.

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