June 2022 Market Update for Local Real Estate Trends

At Compass Realty Group we know the local real estate market and trends, and we know them well. Part of our service is to help our clients navigate the ever-changing market. One way we do this is by translating the data of local sales into information you can use. 

The numbers for the month of May are complete, which gives us a picture of June real estate trends in our area of Western Wisconsin.

Polk, Barron, and St. Croix Counties

Let’s take a step back and get the “1,000 foot view” by looking at the numbers for all three of these counties grouped together.

There were 246 active listings within these three counties. That’s down just 8% compared to the previous month. So, the amount of active listings held fairly steady for a couple months in a row.

The average amount of days properties in these three counties were on the market before being sold was 30 days. That’s down 21% compared to the previous year, which was 38 days on market.

In case it’s been a while since you took a math or statistics class, let’s review what the word “median” means. When it comes to numbers, the median is the middle number in a list of numbers ordered from lowest to highest.

The median listing price for these three counties last month was $404,000. The median sale price of properties sold was $332,000.

The number of properties sold in these three counties in the month of May was 151. That’s fairly close to the 159 sold the previous month of 159 and the 162 sold the previous year.

St. Croix County

Narrowing the numbers to just St. Croix County gives a clearer picture of the real estate scope in this Wisconsin border county.

There were 201 active listings and 128 properties were sold. The number of properties sold barely fluctuated compared to the previous month or the previous year. 

The median listing price for properties in this county was $425,000. The median sale price was $350,000. Both of these numbers increased by about $20,000 compared to the previous month. 

And the average days on the market was 30 days, down 23% compared to a year earlier in May 2021.

Polk County

Let’s break down some statistics of homes listed and sold in Polk County in May. 

When it comes to active listings, there were 120 properties. That number increased from the previous month. This could reflect a larger selection of homes for buyers to choose from in this county.

The median listing price in Polk was $299,000, with the median sale price coming in at $317,000. Much like St. Croix County, both of these median numbers have recently increased.

The average number of days on the market was 67 days, up 97% compared to last year. In May 2021, houses were on the market for only 34 days (on average). This means that properties in Polk County are selling slower than they were at this same time last year. But that could be because of the increase in active listings. In May of 2021, there were very few homes for sale in Polk County, so anything available was purchased much quicker. 

Even though the numbers tell a story of average days on the market, properties throughout Polk County are still selling. There were 70 units sold in May of this year.

Amery

Finally, let’s dial in even smaller, looking at just one community - the fine area of Amery.

Active listings were down 30% compared to last year and down 12% from the previous month. This means that buyers had a smaller selection to choose from in the Amery area.

The median listing price was $214,000 and the median sale price was $242,000. The difference between the listing price and the sale price seem to say that homes are selling for more than they’re asking for. This could be because of the lower inventory of choices.

The average number of days on the market was 44 days. And 14 homes were sold in the Amery area in the month of May.

Inventory is Needed

Across the board, inventory is down. If you would like more information about what it’s like to work with Compass Realty Group when selling a property, we would love to speak with you. We never pressure any potential sellers into any action. We just want to help people in our community make smart and informed real estate decisions.

If you are looking for a home to buy, we love to help our clients navigate the market and their choices. We will work with you to guide you to a home you love.

If you would like to start a conversation today, please call Alison Blanchard at (228) 363-2478.