This video talks about the most current housing market and how it is dramatically changing for Somerset WI and the surrounding area through September of 2022. Up to this point in time, Somerset appears to be completely insulated from home values dropping like most communities in Western WI. However, this is mainly a result of new construction vs existing single family home Continue Reading
Somerset Wisconsin
St. Croix County WI Housing Market Correction 2022
The St. Croix County housing market continued to see average home sale appreciation of 13.2% over the past 12-months. The number of closed sales over the past 12-months is only down slightly, but there are indications a housing market correction is on its way. That the number of showings per listing are slowing. That sellers are reducing their list prices after going on the market at a faster Continue Reading
Houlton WI Housing Market Correction 2022
The Houlton WI St. Croix County housing market continued to see average home sale appreciation over the past 12-months but the housing market correction is on it's way. That the number of showings per listing are slowing. That sellers are reducing their list prices after going on the market at a faster rate. Mortgage and new construction applications are slowing. More importantly 30-year mortgage Continue Reading
New Richmond WI Housing Market Correction 2022
The New Richmond and St. Croix County housing market continued to see average home sale appreciation over the past 12-months but the housing market correction is on its way. Research shows listings are down from a year ago. That the number of showings per listing are slowing. That sellers are reducing their list prices after going on the market at a faster rate. Mortgage and new construction Continue Reading
Somerset WI Housing Market Correction 2022
Somerset WI housing market is still going strong with nearly 30% higher new listings in the past 12-months along with 8% more closed sales. The average sales price increased to 21.2% during this same time frame. However, as we continue to move further into 2022 we should start seeing the early stages of a housing market correction this year. In St. Croix County the number of showings per listing Continue Reading
Somerset WI – 1st Quarter 2022 Housing Market Update
Somerset WI - 1st Quarter 2022 Housing Market Update Both nationally and locally the housing market is at the very cusp of changing from a sellers housing market which has been driven by rapid appreciation for the past two or three years due to shortages of homes for sale. The rapid appreciation has been driven by the pandemic along with historic low mortgage interest rates. Combined it has Continue Reading
