September 2022 Market Update for Local Real Estate Trends

At Compass Realty Group, our primary mission is to provide value and unparalleled customer service to our potential buyers and sellers. One way we do that is by keeping a watchful eye on real estate trends and translating them into information you can use.

The numbers for the month of August are complete, which gives us a picture of September real estate trends in our area. Let’s take a closer look at the real estate landscape as we move into the autumn season in Western Wisconsin.

Polk, Barron, and St. Croix Counties

Let’s talk about the overall area of these three counties and what happened in August with the number of listings, listing prices, sales prices, and the number of days on the market.

Active listings on the market were down 29% compared to August of 2021. And they were down 19% compared to the previous month of July. What that means for buyers and sellers is that the amount of inventory is currently down.

In case it’s been a while since you took a math or statistics class, let’s review what the word “median” means. For 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 $430,000. The median sale price of properties sold was $350,000.

When it comes to the number of days a property was on the market, the average was 33 days. This is down 8% compared to last year, as properties were on the market for an average of 38 days in August 2021. 

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.

Active listings were down 30% compared to a year ago, and down 24% compared to the previous month of July. 

The median listing price for properties in this county was $445,000. The median sale price was $365,000.

And the average days on the market was 35 days, which didn’t change from the same time the previous year.

144 properties were sold in the county, which is down 12% from the previous year, but they held steady from the previous month. 

Polk County

If we focus just on Polk County, the real estate trends for this county come into a clear picture. 

Active listings were down 48% compared to what was on the market in Polk County in the previous year. And compared to the previous month, listings were down 21%. There were 102 active listings in Polk County in August.

The median listing price in Polk was $310,000, with the median sale price coming in at $283,000.

The average number of days on the market was 45 days, up 15% compared to last year. 

Amery

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

Active listings were down 65% compared to last year. And they were down 50% from the previous month. That may seem like a lot, but there were 11 active listings in the Amery area in August. So, with smaller numbers like that, it doesn’t take a lot to make big percentage jumps.

The median listing price was $339,000, which is up from $299,000 the previous month and $264,000 the previous year.  The median sale price for properties in Amery was $250,000.

Homes in the Amery are on the market for a similar length of time as many communities in Western Wisconsin. The average number of days a home was on the market in August was just 32 days. 

Let’s Increase Inventory

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.

Don’t see your city or county here, but want a market update? Please, just let us know and we’ll send you a custom analysis of your market. If you’re thinking about selling, buying, or have any real estate questions, we would love to chat! Please call Alison Blanchard at (228) 363-2478.

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