April 2023 Market Update on Real Estate Trends for Western Wisconsin Communities
Compass Realty Group has a few offices throughout Western Wisconsin. Our home office is located in Clear Lake. And part of our mission to help our communities navigate real estate is to talk about local real estate trends around the area.
At Compass Realty Group, we have the numbers needed so we can use that data to help our sellers and buyers make the choices that are right for them.
Let’s take an overview look at the residential real estate trends in our area, now that March 2023 numbers are in.
Clear Lake Inventory is Lacking
Let’s start this month’s market report by looking at the Clear Lake area.
Inventory in the community of Clear Lake continues to be low. There were just three active listings in March, creating a small pool of homes for potential buyers to select from. This was down 40% compared to the same time last year and down 25% from the previous month.
Compass Realty Group would really like to see the number of properties for sale increase. So, if you are a Clear Lake resident and are thinking about putting your home on the market, please contact us.
The median listing price in Clear Lake last month was $465,000. Looking at the previous month, the median listing price was $462,000.
The average days on the market before being sold was 126 days. This is faster compared to the average of 235 days on the market at the same time the previous year.
There were no residential real estate properties sold in March.
Polk County Sees Numbers Decrease Across the Board
For the second time this year, Polk County sees a decrease in active listings, days on the market, and the number of units sold.
Let’s start with active listings. For active listings, there were 63 properties. This is down 31% from March 2022. And the number of active listings decreased by 18% when compared to the previous month.
The number of homes sold in the county in March 2023 was 28. This statistic saw a very minor reduction from the previous year. Last year during the same time 30 homes sold. The previous month, just 18 homes were sold. So there was a big jump from February to March.
The average days a property in Polk County was on the market was 47 days. That is down just 2% compared to the previous year when the average days on the market was 48.
The median listing price in Polk County was $335,000, with the median sale price coming in at $270,000. That median sale price is up from the previous month of February when the median sale price was $247,000. In March of 2022 the median sale price was $267,000.
Amery’s Numbers Hold Steady
Much like Clear Lake, Amery is also a community with low inventory. There were only 4 active listings in March 2023. This is down 66% from the previous month and down 20% compared to the same time the previous year.
The median listing price for properties in this community was $436,000. This median listing price was an increase when compared to the previous month ($349,000) and the previous year ($212,000).
The median sale price was $355,000. This number is an increase from the previous month ($258,000) as well as the previous year ($300,000).
The median sale price was based on the 3 properties sold in Amery. This isn’t a very big number! The number of properties sold was down 57% compared to the previous year, when 7 properties were sold in March 2023.
The average days on the market really decreased for Amery. Units were on the market for an average of 42 days in March. In March 2022, the average number of days on the market was 62.
Osceola’s Real Estate Landscape
Homes for sale in Osceola, WI, are also scarce, although they are faring better than Amery with inventory. Active listings in March stood at 17 properties. That’s down 29% from the previous year and down 19% from the previous month.
The median listing price was $330,000, with the median sale price at $295,000.
Seven units were sold, which is the same number as units sold the previous year, in March 2022.
Homes seem to be selling faster, as the average days on the market was a quick 41 days. Last year, they averaged 60 days on the market.
We Know the Market
At Compass Realty Group, we know the market. If you have real estate questions, we have the answers to help you make big life decisions. Need trend information from another area not mentioned in this post? We can get the real estate trends for other communities for you! Please call Alison Blanchard at (228) 363-2478 for help and information.