A THREE MONTH OVERVIEW OF THE WAUSAU MARKET THROUGH THE PANDEMIC & this weeks episode of The Real – we kept it real this week and included some bloopers . . . enjoy!
Inventory:
Single family inventory in greater Wausau area – 489 homes
283 have accepted offers
206 are available
Market by Price Point:
0.00-100k – 47 homes, 60% of these have accepted offers
100-200k – 160 homes, 74% accepted offers
200-300k – 148 homes, 60% accepted offers
300-400k – 65 homes, 48% accepted offers
400-500k – 42 homes, 29% accepted offers
500-600k – 12 homes, 42% accepted offers
600k + – 17 homes, 6% accepted offer
Last 30 days:
155 new homes on the market, 92 of those already have accepted offers
130 homes sold (closed)
Last 14 days:
74 new homes on the market, 26 of those already have accepted offers.
64 homes sold (closed)
Number of showings:
Week 1 March – 500 showings
Week 2 March – 480
Week 3 March – 360
Week 4 March – 215
Week 1 April – 279
Week 2 April – 348
Week 3 April – 434
Week 4 April – 390
Week 1 May – 443
Week 2 May – 560
Week 3 May – 700
Week 4 May – 605
Week 1 June – 481
Week 2 June – TBD (381 so far) few days left
Summary :
1.) Market between 0-300k is really moving – 2/3 of homes in this price point have accepted offers
2.) Starting to trickle into the upper price points, interest rates being low is helping stimulate that
3.) Supply & Demand determines pricing / the market – a lot of people ask if the market is going to tank / home values drop . . . could it yes – but it has to do with supply & demand – nothing else
Stay tuned for our next weeks upcoming episodes!!