If this market feels familiar, that's because it is. It's almost Groundhog Day out there. Things look nearly the same as last year, and even as last quarter. The housing market is still strong but continuing to soften. This information is for Brown County only.
Here's where we stand:
- Pricing is up 6%, with the median price moving from $360,000 to $380,000.
- Overall sales are up 6% as well.
- Price reductions are up significantly, to 46% of listings compared to just 10% last year, and inventory has grown 18% since last year. This is a key thing to note.
- Interest rates continue to put a real emphasis on affordability, or the lack of it. The increase to the low 7’s is not helpful although historically that is seen as pretty average.
- All of this puts us right on the line between a buyer's market and a seller's market. We are still slightly in a seller’s market. Slightly.
One thing we want sellers to understand is that renovation costs have risen sharply, and if a home needs work, the price needs to reflect that. Starting to see a lot of deferred maintenance and homes that have not kept up with updating. The price of the home needs to reflect that condition and what it will cost a buyer to bring it up to speed. Also, doing the deferred maintenance at the last second is super helpful to your sale but expecting to get 100% of that cost back is not realistic.
You can absolutely price a home for its condition if you don't want to do the work yourself. The issues arise when a home is priced high, but the condition doesn't support it.
In general, our market here is doing remarkably well compared to the state and the nation.
- Statewide, sales were down 0.8%. We are one of the few areas that's actually positive.
- Sales above $500,000 are up 60% over last year.
- Sales above $2 million, which used to be rare, are becoming less so. In 2025, we had no sales above that mark at this point. In 2026, we already have four. It's a real testament to how building costs have climbed.
We're still seeing multiple offers on some homes, though far less often than before, and mostly on the truly hot properties. I feel we're at the beginning of a pricing decline. Predictions are showing suppressed sales heading into 2027 and beyond. I see this as a gradual decline in pricing not a cliff dive. This is evidenced in the high uptick in price reductions. The pricing needs to cool down so more buyers are able to enter the market. I do not see this as a negative. Most people have experienced massive gains in the value of their home as most have owned their homes prior to the pandemic. Buyers who purchased in the pandemic years 2022 to 2024 may see a loss.
We're also seeing more buyers expecting sellers to make unreasonable repairs after inspection. Buyers have more power than they have had in recent years. I am seeing some Agents who are not used to negotiating inspections and not equipped to navigate inspections properly not educating their buyers on what's actually reasonable to ask for versus what isn't, cosmetic issues versus structural ones. Also buyers are entering their inspections into AI to ask it what should be asked for. Whaaatt?? What happens when this happens is they ask for a long list of repairs that are not considered defects and it can unravel a deal. Pro-tip work with Agents who understand how to negotiate inspections. It saves a lot of unnecessary stress for all parties involved. Pro-tip #2 when listing DO a pre-listing inspection. Knowledge is absolutely power for you…Huge!
If you're thinking about listing, a few things worth checking before you do:
- Do you have deferred maintenance that needs attention (roof/mechanicals)?
- Is the home completely decluttered and ready to show?
- Is it clean, truly clean, throughout? And this goes beyond the interior!
- Have any failed windows been repaired? I am seeing failed window seals a lot in inspections and buyers asking for a new window or all new windows (nuts!). Replacing the glass ahead of time is a very wise investment.
- Has the landscaping been taken care of? Lots of overgrown and/or old landscaping going on. This falls into the first impressions category. Tidy, trimmed landscaping sends the first signal to the buyer.
These details matter more than people think. As the market gets softer they REALLY matter. We go over all of this and much more with our clients along with contacts to help. A huge perk of working together with our team is our vetted concierge list. Yay on that!
On a local note, I want to share something close to my heart.
Jim Schmidt is running for mayor of Green Bay again. I have known him personally for decades. I’ve watched him do remarkable, genuinely hard things, not just talk about them. Long after he left office, he kept pouring back into Green Bay, working at the NEW Homeless Shelter, teaching as a local professor, running a local radio show, and so much more.
I see this as a non-partisan position. Currently the position has become completely partisan. Jim has no political aspirations beyond serving as mayor and is accepting no money from either party. He is focused on getting Green Bay back to growing and works well with both parties. I have seen him do this since I have known him. I am genuinely excited to support him in this run. I cannot wait to get out there and help! I am so thankful that he and his wife Dona are willing to get back in the ring.
What a beautiful Autumn we are enjoying. I am loving the sunshine extension and the warmer temperatures. Makes our listing photos extra inviting!
Also…GO BREWERS!!! How about that fun season for all of us??? So exciting!
