As we head into the Independence Day holiday, I wanted to take a moment to catch you up on the Brown County Real Estate Market numbers year to date. I also wanted to address some misleading stories being shared in the media that are causing some people undo concern. Believe me, if you needed to be concerned I would let you know!
Let’s take a look at what’s really happening in our local real estate market.
First…You may have seen headlines about a flood of inventory and doomsday comparisons to 2008. This is so misleading and inaccurate. Redfin is sounding alarm bells about there being 500,000 more home sellers than buyers. The location of these homes matter. They are located in Florida, Texas, Arizona and California. These areas definitely have a surplus of inventory. The majority of the rest of the country is still experiencing a major inventory shortage. Especially the Midwest and the East Coast. This 2025 market is NOT the 2008 market for so many reasons. Long story short…Lack of inventory and why we have a lack of inventory. Simple supply and demand. There are other important factors but this newsletter can only be so long… Feel free to call me to have an in depth discussion. I am all about it!
Real estate is always hyper local. Our area is still very short on inventory. Here's what the data shows:
Our year-to-date total sales are down 5% compared to last year (986 sales versus 1,030), which is a very modest adjustment and not surprising due to affordability realities. While homes in the $500,000+ range are holding steady, we have seen a 20% decrease in sales for homes under $300,000, primarily due to affordability factors. This will likely change when we see movement in either housing prices or interest rates. Pricing is holding steady with a 14% increase over last year at this time. Right now the median sale price of a Brown County home is $376,494 (statewide the median price is $330,000 up 4.3% year over year). Last year at this time it was $325,000 (statewide it was $316,250). The affordability relief will likely be found in lower interest rates. The lack of inventory is again key here.
Speaking of…Very thankfully we have 15% more inventory than last year. We’re still at just 3 months of inventory (a balanced market needs 6 months), and we remain 28% below our 2019 levels. The market remains competitive; well-priced homes continue to receive multiple offers and are selling, on average, 1% above list price. As mentioned, prices are holding steady as well.
Regarding recent global events, particularly in Iran, we want to provide some perspective. So far, these developments have not impacted our local real estate market. Interest rates have actually decreased slightly, and our spring market is in full swing, albeit with a slight delay. Our clients remain focused on their personal real estate goals, driven by life events and individual circumstances rather than global headlines.
Looking ahead, there is increasing discussion at the presidential level about potential interest rate changes via the influence of a shadow Chair of the Federal Reserve, which could help improve affordability. We're monitoring these developments closely while continuing to serve our clients’ immediate needs in this active market.
You can count on us to keep a level head and a ‘can do’ attitude throughout everything going on. We will always find a way to help you with your real estate needs as they arise. We make the most of any market. ALWAYS.
Now back to some fun…I will be heading up to our lake cottage in Crivitz to hang out with some of our favorite friends and family to celebrate all that is summer and the 4th of July. Our team is off in several different directions doing more of the same. Summer in Wisconsin…It is just the BEST!!!
We wish you a sunny, FUN and safe Independence Day. God bless America! What a country we are and what a BLESSING to call this place ours. I am one grateful citizen and I know you are too.
