Keeping an Eye on August 2022 Real Estate Trends
At Compass Realty Group, a big part of our mission is to be driven by purpose. Everything we do is to serve our clients and potential clients. We’re here to educate, improve, and serve our community. Part of our purpose is to know the local real estate trends and keep a close eye on numbers each month.
The numbers for the month of July are complete, which gives us a picture of August’s real estate trends in our area.
Amery
We’ve said it before, and we’ll say it again - active listings in Amery are sparse. There were just 12 active listings, creating a small pool of homes for potential buyers to select from. This was down 57% compared to the same time last year and down 50% from the previous month. Only 11 properties sold in July 2022.
Looking at the previous month, the median listing price was $324,000 and the previous year, it was $239,000.
The average days on the market in the Amery community before being sold was just 34 days. This is five days quicker than a year ago.
Polk County
Let’s start this month’s market report by looking at Polk County, where we serve many clients..
We keep banging the same drum month after month, but the number of inventory is down. In Polk County, there were just 94 active listings in July. That number was down 48% compared to the previous month and down 39% compared to the same time last year.
The median listing price in Polk was $304,000. Remember, median means the number right in the middle of the list. This median list price was slightly higher than the $299,000 price the previous month.
The median sale price for the county was $265,000, which was a decrease from both the previous month and the month of July in 2021.
There were 67 units sold in Polk County in July and the average number of days on the market was 34 days.
Polk, Barron, and St. Croix Counties
Looking at a larger area can give a bigger picture of the market.
The average number of days properties in these three counties were on the market before being sold was 33 days. That number practically remains unchanged compared to the previous year, which was 32 days on the market.
The median listing price for these three counties last month was $429,000. That’s up from the previous month’s median sale price of $390,000. In July 2021, the median listing price was $346,000.
The median sale price of properties sold was $361,000. This sale price was down from $380,000 the previous month and up from $301,000 the previous year.
The number of properties sold in these three counties in July was 236 as inventory tends to move quickly across the board. Although July sales in these combined counties dipped a bit.
St. Croix County
Let’s look at the numbers for Polk County’s neighboring county, St. Croix.
There were 226 active listings during July in this larger county.
The median listing price for properties in this county was $448,000. That’s up from $399,000 the previous month and even farther north of the median sale price of $369,000 the previous year. July’s median price was based on the 143 units that were sold during the month.
The median sale price was $380,000. This number is lower than the previous month, which was $399,000 and was $321,000 the previous year.
And the average days on the market was 35 days, up 16% compared to a year earlier in July 2021.
Numbers!
So what do these numbers mean? How do you interpret them as an informed buyer or seller? The good news is that you don’t have to interpret them. That’s what we at Compass are experts in! Our team of agents practice low-pressure, high-information relationships with all of our clients.
Let Us Help You
When it comes to buying or selling a home, the information can be overwhelming. We can help you navigate the market without making your head spin. Our agents are always knowledgeable, ready to work for you, and have your best interest at heart. 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.