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Please note there is a slight delay in the data, as statistics are shared around the 10th 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
Months Supply of Inventory, which currently stands at 0.92. This metric represents the number of months it would take to sell the current inventory of homes on the market at the current pace of sales. A lower number indicates a seller's market, while a higher number signifies a buyer's market. In this case, with a relatively low supply, we can infer that demand is strong, giving sellers an advantage in negotiations.
Now, let's examine the 12-Month Change in Months of Inventory, which shows an increase of 5.75%. This metric indicates how the supply of homes has changed over the past year. A positive percentage suggests that the inventory has grown, potentially signaling a shift towards a buyer's market. However, it's important to note that despite the increase, the overall supply remains relatively low, maintaining a seller's advantage.
Moving on, we come to the Median Days Homes are On the Market, which stands at just 11 days. This metric measures the average number of days it takes for a home to sell once it's listed. A lower number indicates a faster-paced market, with homes being snatched up quickly. With homes selling in such a short timeframe, buyers must act swiftly, while sellers can expect a quick turnaround.
Trempealeau County
The months supply of inventory, which currently stands at 3.04 months. This metric represents the time it would take for all current listings to be sold, given the current pace of sales. A lower number indicates a seller's market, where demand outweighs supply, potentially driving up prices.
However, it is important to note that the 12-month change in months of inventory has seen a significant increase of +35.11%. This means that over the past year, the supply of homes has increased, potentially shifting the balance towards a buyer's market. Buyers may have more options and negotiating power in such a scenario.
To further understand the market dynamics, let's consider the list to sold price percentage, which currently stands at 97.8%. This metric represents the percentage of the original list price that a home eventually sells for. With a high percentage like this, sellers can be confident that they are receiving offers close to their listing price. However, buyers may need to be prepared for potential competition and the need to make competitive offers.
Monroe County
The Months Supply of Inventory, which stands at 1.73. This metric indicates the number of months it would take to sell all the available homes on the market if no new listings were added. A lower number suggests a seller's market, where demand exceeds supply, leading to potentially higher prices.
Now, let's examine the 12-Month Change in Months of Inventory, which shows a significant increase of 74.75%. This means that the supply of homes on the market has increased over the past year. This rise in inventory can be attributed to various factors, such as increased construction or a decrease in buyer demand. Consequently, this change may indicate a shift towards a buyer's market, where buyers have more options and negotiation power.
Moving on to the Median Days Homes are On the Market, we observe a relatively low value of 23 days. This metric represents the average number of days it takes for a home to be sold. A shorter duration suggests high demand and a competitive market, where homes are being snatched up quickly. For sellers, this means that if they price their homes competitively and present them well, they are likely to sell within a short period.
Vernon County
The "Months Supply of Inventory," which currently stands at 1.84. This metric represents the number of months it would take to sell all the available homes on the market if no new listings were added. A lower number indicates a seller's market, where demand outpaces supply, leading to potentially higher prices and quicker sales.
Moving on, we have the "Median Days Homes are On the Market," which is currently at a remarkably low figure of 8 days. This metric highlights the average number of days it takes for a home to go under contract after being listed. A shorter duration indicates a robust market where properties are in high demand and sell quickly.
Next, let's discuss the "List to Sold Price Percentage," which currently stands at 104.2%. This metric indicates the percentage at which homes are selling relative to their listing price. A value above 100% suggests that homes are often selling above their initial asking price. This situation demonstrates strong competition among buyers and potentially higher prices.
Richland County
First, let's talk about the "Months Supply of Inventory," which currently stands at 4.91. This metric represents the number of months it would take to sell all the currently available homes on the market, given the current sales pace. A lower number indicates a seller's market, where demand exceeds supply, leading to potentially higher prices.
Now, let's turn our attention to the "12-Month Change in Months of Inventory," which has seen a staggering increase of 204.97%. This substantial jump signifies a significant shift in market dynamics. It suggests that the inventory of homes available for sale has increased considerably over the past year. This could be an advantage for buyers as they have more choices and potentially more negotiating power.
Moving on, we come to the "Median Days Homes are On the Market," which currently stands at 26. This metric represents the average number of days it takes for a home to sell once it's listed. A lower number indicates a faster-paced market, where homes are in high demand, and buyers need to act swiftly. On the other hand, a higher number suggests a slower market, providing buyers with more time to consider their options and potentially negotiate better deals.
Next, let's discuss the "List to Sold Price Percentage," which currently stands at an impressive 97%. This metric represents the percentage of the listing price that homes are actually sold for. A higher percentage indicates that sellers are receiving offers close to their asking price, suggesting a strong market with motivated buyers. However, buyers should still be prepared for potential negotiations to ensure they're getting the best deal possible.
Lastly, we have the "Median Sold Price," which currently stands at $190,000. This is the midpoint price of all the homes that have recently sold in the market. It provides a benchmark for buyers and sellers to gauge the current value of properties. Sellers can use this information to set their asking price, while buyers can use it as a reference point when making offers.
