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Please note there is a slight delay in the data, as statistics are shared around the 7th of each month for the preceding month. Knowing this can be complex and be interpreted many ways, please know I am always available to talk through the current market trends for where you are planning to buy or sell. Want to discuss further? I'm ready when you are.
La Crosse County
LaCrosse County's "Months Supply of Inventory," stands at 0.74, representing the number of months it would take to sell all the available homes on the market, given the current sales pace. A lower supply of inventory indicates a seller's market, where demand exceeds supply, often leading to higher prices and faster sales.
Now, let's delve into the "12-Month Change in Months of Inventory," which shows a decrease of 2.63%. This decrease suggests that the market has become more competitive over the past year, with a shrinking inventory relative to demand. For sellers, this means less competition and potentially higher selling prices, while buyers may face more limited options and increased competition.
Lastly, we come to the "Median Sold Price," which stands at $273,000. This metric provides insight into the average price at which homes are selling. A higher median sold price indicates an appreciation in property values, potentially yielding profitable returns for sellers. For buyers, it signifies a market where prices may be on the rise, and the need for careful budgeting and negotiation.
Trempealeau County
The biggest news here is the 12-Month Change in Months of Inventory (currently 3.03 months), which is a significant increase of +57.81%. This figure represents the percentage change in the number of months it takes to sell all available homes compared to the previous year. A positive change indicates a decrease in demand or an increase in supply, signaling a shift towards a buyer's market. Although this increase might seem alarming to sellers, it emphasizes the need to price homes competitively and be prepared for potentially longer selling periods.
Moving on, we have the Median Days Homes are On the Market, which currently stands at 45 days. This metric measures the average number of days it takes for a home to sell once it is listed. A lower number suggests a fast-paced market with high demand, benefiting sellers. However, a longer duration may indicate a slower market, providing buyers with more time to make informed decisions. With a median of 45 days, we are currently observing a reasonably balanced market, allowing both parties to engage in a thoughtful transaction process.
Next, we have the List to Sold Price Percentage, which stands at 95.4%. This metric reveals the percentage of the listing price that homes are ultimately sold for. A lower percentage suggests a buyer's market, where negotiations may result in a lower final sale price. In our case, a list to sold price percentage of 95.4% signifies a market where there is some room for negotiation, benefitting both buyers and sellers.
Monroe County
Monroe County's "Median Days Homes are On the Market," currently stands at a mere 16 days. This metric represents the average time it takes for a home to sell once it is listed on the market. With such a short duration, it indicates a fast-paced market where homes are being snatched up quickly. Sellers can take advantage of this by potentially receiving multiple offers and achieving a quicker sale.
Next, we have the "List to Sold Price Percentage," which currently sits at a respectable 96.8%. This metric measures the percentage of the listing price that sellers ultimately receive when their homes are sold. With a high value like 96.8%, it implies that sellers are able to sell their homes very close to their asking prices. This suggests a strong market where buyers are willing to pay a premium for desirable properties.
Lastly, we come to the "Median Sold Price," which currently stands at $216,120. This metric represents the midpoint of all the sold prices in a given period. With a specific value like $216,120, it provides a benchmark for buyers and sellers to gauge the current price range of properties in the market. It is important to note that this value may vary depending on the location and specific characteristics of the properties being sold.
Vernon County
In Vernon County, the 12-Month Change in Months of Inventory, which shows a significant increase of 38.33%. This indicates a potential shift towards a buyer's market, where there may be more inventory available and less competition among buyers. Buyers might find themselves with more options and potentially more negotiating power.
Moving on to the Median Days Homes are On the Market, we see a relatively low figure of 18 days. This suggests that homes are selling at a swift pace. Buyers should be prepared to act promptly when they find a property they're interested in, as it may not stay on the market for long.
Next, let's explore the List to Sold Price Percentage, which currently stands at 100.9%. This metric reveals that, on average, homes are selling slightly above their listing prices. This could be an indication of strong buyer demand and competition driving up prices. Sellers can take this as a positive sign, knowing that they may have an opportunity to maximize their return on investment.
Richland County
First, let's talk about the Months Supply of Inventory, which currently stands at 4. This metric represents the number of months it would take to sell all the properties on the market, assuming no new listings are added. Six months indicates a "healthy" marketing, so Richland County is still trending, slightly, toward a Seller's market but moving toward a Buyer's market.
Now, let's turn our attention to the 12-Month Change in Months of Inventory, which has seen a significant increase of +214.96%. This surge suggests that the market has shifted towards a buyer's market, where supply has outpaced demand. Buyers may have more options to choose from and potentially negotiate better deals.
Next, we have the List to Sold Price Percentage, which currently sits at 91.9%. This metric measures the average percentage of the listing price that a property ultimately sells for. A higher percentage signifies a stronger seller's market, where sellers have more negotiating power. While 91.9% is a respectable figure, it may indicate lots of room for negotiation for buyers.
