High interest rates, High property values, Low Inventory
High mortgage rates, high property prices, and low inventory levels are all conspiring to make the 2024 housing market challenging for both buyers and sellers.
What you can see is that prices in Northeast Wisconsin are still on the rise. The median price is around $285,000.
On the flip side, the number of home sales is down in our area from previous years. The trend for increased summer sales continues, but the # of sales is less than 2020/2021.
Mortgage rates have dipped slightly, which is helpful to Buyers. We are seeing rates in the 6.5%-7% range depending on the loan, credit, and down payment. This is slightly down from earlier this year.
All in all, the Fox Valley area is a sought-after place to live – keeping the housing market competitive for the foreseeable future.
Freedom Team Real Estate Agents (Kyle Meyer, Lauren Nobbe, Valerie Bohn) serving Appleton, Neenah, Oshkosh, Fond du lac and surrounding areas in Wisconsin. Check us out at www.joinfreedomteam.com or by contacting Kyle or Lauren at 920-410-7230 or Valerie at 920-232-8683.
Additional info on our blog post: https://www.joinfreedomteam.com/blog
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