February Home Sales Up 2.9%
Report Highlights
• Sales Were Up 2.9% in February
• February Listings Up 16.3%
• Metro Prices Up 9.5% With Average Sale Price of $407,81
February Home Sales Up 2.9%
Report Highlights
• Sales Were Up 2.9% in February
• February Listings Up 16.3%
• Metro Prices Up 9.5% With Average Sale Price of $407,81
Highlights
Sales Were Down 9.9% in January
January Listings Were Up 2.4%
Metro Prices Up 9.5% With Averaging Sale Price of $407,818
• Listings Up 2.9% for the Month, Up 4.3% for the Year
• Metro Prices Up 9.7%, Averaging Sale Price is $437,278
House hunters remain on the sidelines and stubborn sellers are delisting their homes rather than cutting prices. Everyone appears to be taking a wait-and-see approach as we head into September.
• Sales Behind 2022 But Hurdled Over 2024
• Metro Prices Up 5.4% Through the Quarter, Averaging $457,573
• Macro-Economic Forces Yielding Uncertainty
• Stable Sales, Limited Inventory
• Lingering Impact of Interest Rates
• High Demand, Low Supply in Key Price Range
GREENFIELD, WI
Prices spiking in Greenfield — where average home prices rose by nearly $53,000 year over year — also made the list.
Total homes sold: 71, up from 62 in the first quarter of 2024.
Average sale price: $324,996, up 19% year over year.
Average number of days on market: 23 days, down from 28 days the year prior
NEW BERLIN, WI
Market heating up in New Berlin... Although prices have risen more modestly in New Berlin compared to Mukwonago or Greenfield, the community's market is still hotter than the metro-wide average.
Total homes sold: 62, up from 52 in the first quarter of 2024.
Average sale price: $486,689, up 7% year over year.
Average number of days on market: 23 days, down from 25 the year prior.
• Sales Down But In Line With Recent Years
• Listings Down Slightly But Up for the Year
• Average Sale Price Up 11.7%
• Sales Down Due to Lack of Listings & New Construction
• Metro Prices Up 4.3% for the Quarter, Averaging $435,646
• Macro-Economic Forces Yielding Uncertainty
• Sales Down 3.9% in February
• Listings Up 0.4%, for the 3rd Straight Month
• Average Sale Price Up 15.5%
• Sales Up 7.1% in January, Good Start to 2025
• Listings Up 10.9%
• Average Sale Price Up 14%
Tips for Home Buyers
3. Get Organized
Before starting your home search, gather essential documents. By doing so, you’ll ensure a smoother process when you find your dream home. Be sure to have:
- Bank and income statements
- Credit information
- Tax returns
- Personal identification
Tips for Home Sellers
3. Make Updates and Finish Projects
Small upgrades can make a big impact on your home’s appeal. For example:
- Declutter and organize
- Freshen up with paint or minor repairs
- Complete any lingering renovation projects
Well-maintained homes often sell faster and at better prices.
Tips for Home Buyers
2. Monitor Your Credit
Credit scores can be tricky, but they’re critical for securing favorable mortgage rates. Therefore, aim for a score of 720 or higher to access the best deals.
Here’s how to get there:
- Pay your bills on time
- Keep credit card balances low
- Reduce your lines of credit to three or fewer
- Check your credit report regularly for accuracy
Tips for Home Sellers
2. Set a Time Frame
If you have a target move date, establish your timeline early. For instance, account for:
- Time to list and sell your home
- The closing process
- Your personal transition to a new property
We can help you back into an ideal timeline.
Tips for Home Buyers
1. Save Strategically to Purchase your Dream Home
While home prices may stabilize, interest rates remain high, and cash buyers are still active.
It might take time for significant changes to occur, so focus on building your savings.
For example:
- Bank your tax refund
- Use coupons and take advantage of sales
- Consider working an extra shift to boost savings
Tips for Home Sellers
1. Research and Plan Ahead to Sell your Home
The market remains dynamic, with potential for high sale prices but unpredictable inventory. Consequently, it’s essential to do your homework:
- Review local real estate reports
- Understand current market conditions
- Set realistic expectations regarding
- Pricing
- Timing
As 2024 winds down, it’s the perfect time to reflect and plan for the year ahead. If your New Year’s resolution includes a new chapter in your real estate journey, we’re here to help! Whether you’re buying or selling a home in 2025, these tips will help you navigate the process with confidence.
Looking Back at 2024 - The past year brought high median home prices, high interest rates, and low inventory levels. As we head into 2025, many are wondering if now is the right time to make a move.