July 2023 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 June are complete, which gives us a picture of July real estate trends in our area of Western Wisconsin, including Clear Lake, Amery, Glenwood City, Osceola, and all of Polk County.
Polk County
Let’s take a step back and get a bigger view by looking at the numbers for an entire county.
There were 86 active listings within Polk County. That’s down just 10% compared to the previous month. But listings are down 48% compared to June 2022.
The average nubmer of days properties in these three counties were on the market before being sold was 24 days. That’s down 38% compared to the previous year, which was 39 days on the market. Houses in Polk County are selling faster than they were a year ago.
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 Polk County last month was $349,000. That’s up from $334,000 in the previous month and up from $295,000 the previous year.
The median sale price of properties sold was $337,000. That’s an increase from $324,000 the previous month and up from $280,000 in June 2022.
The number of properties sold in Polk County in the month of June was 62. That’s fairly close to the 71 sold at the same time last year.
Amery
The inventory in Amery (and other communities) continues to remain low. There were just 8 listings in the month, which is down 69% compared to June 2022 and down 38% from May 2023.
The median listing price for properties in Amery was $320,000. Which is up from the median listing price of $269,000 in the previous month.
The median sale price was $309,000. This statistic was also up from the median sale price of $270,000 the previous month.
And the average days on the market was 20 days, down 37% compared to a year earlier in June 2022 when the average days on the market in Amery was 32. We continue to see small amounts of inventory sell quickly.
Clear Lake
Real estate-wise, the Clear Lake area has been fairly quiet.
When it comes to active listings, there were just 4 properties. That number decreased 50% from the previous year and 20% from May 2023.
The median listing price in Clear Lake was $379,000.
The average number of days on the market was 21 days.
Glenwood City
Much like Clear Lake, real estate activity in Glenwood City has been minimal.
Active listings were down 42% compared to last year. That’s because there were just 4 listings in the Glenwood area.
Three properties sold in June. The median sale price was $250,000.
The average number of days on the market was 65 days. Which is over two times longer than it was the previous year, when the average days on the market were just 30 days.
Osceola
Finally, let’s dial in on Osceola. This border town had 14 active listings in June. That’s down 65% compared to the number of listings the previous year, and down 33% compared to the previous month.
The average number of days on the market for homes in this community was 25. That’s 50% quicker than the 51 days homes were on the market in June 2022.
The median listing price was $328,000 and the median sale price was $427,000.
Twelve homes were sold in Osceola, which is up from the previous month of 7 homes.
Looking for Another Community?
If you would like numbers of real estate trends in a different community not reported in this post, we can get those for you!
Please call Alison Blanchard at (228) 363-2478 and she would be happy to help you find out the real estate landscape for wherever you’re wanting to buy or sell!