Changing With The Leaves
September Housing Market...
The market is still crazy, but certainly not the same as it was a few months ago! The market has remained favorable for sellers and difficult for buyers but perhaps not so much so relative to the robust spring/summer market in Wausau!
In March of 2021 there were 227 homes on the market in the Wausau area across all price points, in May there were 305, today there are 383. With the increase in the amount of homes options for buyers, they may feel there are more options now than earlier in the year. Relative to the last few years, the inventory is still very low. Over the last few months the amount of home buyers in the market has gone down slightly as well. Many buyers that entered the market in the spring of the year may have dropped out of the market after not finding the right home or missing out a few too many times (buyer fatigue).
Many other buyers have successfully found their home and are no longer in the market. With more home options paired with fewer buyers in the market, buyers may feel it’s less competitive now than it was a few months ago. Relatively speaking it’s still a sellers market and buyers are still under high pressure when purchasing, but they are getting some relieve and this balancing out in the market will likely get closer as we head into the fall / winter. Looking back over the last few months, as a seller, June was the best month to have put a home on the market during. That appeared to be the height of the market as far as prices / number of offers per home/ etc . . for sellers. May / July would be close seconds but the most favorable conditions appeared to happen in June. For buyers, if the right home came up, the winter months were likely the most ideal time to purchase price wise, but it's likely the right house may not have came up with limited inventory during that time.
Moving forward, if you are thinking of selling, it may be good to do so sooner rather than later as the cyclical trend is for the market to slow in the coming months. As a buyer, if you are thinking about getting into the market or if you haven't found the right home yet, the next few months may be a great time to find a home!
Market Update - 9/13/21
- Single family inventory in greater Wausau area - 383 homes
- 240 are under contract (63%)
- 143 are available (37%)
Market by Price Point:
- 0.00-100k - 26 homes, 46% are under contract
- 100-200k - 157 homes, 71% are under contract
- 200-300k - 92 homes, 68% are under contract
- 300-400k - 59 homes, 69% are under contract
- 400-500k - 29 homes, 41% are under contract
- 500-600k - 12 homes, 42% are under contract
- 600k + - 13 homes, 15% are under contract