Home Prices Rise in Brown County
If you’ve been paying attention to the housing market lately, it won’t come as a surprise to learn that home prices have been rising in desirable areas.
“In Brown County, the median sale price last month was even higher than the state average, at $219,925, according to sales data compiled by the Realtors group.
Mark D. Olejniczak, president of Green-Bay based Mark D. Olejniczak, Inc. in Allouez, said he thinks the buyer-seller imbalance is affecting lower-priced homes more than higher-priced homes.
“It’s almost like two different real estate markets,” Olejniczak said.
With homes under $200,000, Olejniczak has seen homes sell quickly as long as the home is in good condition and priced well.
In the market for homes over $500,000, buyer- and seller-power are more balanced.
Buyer confidence has finally returned after the dismal Great Recession, and we are in the longest economic expansion period in U.S. history. Olejniczak points out that as of yesterday, the 30-year fixed interest rate was at 3.75%.
“So I would call it a seller’s market. Because there seems to be more buyers than listings in that price range,” Olejniczak said. “The values have been going up. They’re driven because a lot of buyers are active and they want to take advantage of this 3.75% interest rate.” –Nusaiba Mizan, Green Bay Press-Gazette.
Read the full article here to learn more: https://www.greenbaypressgazette.com/story/money/2019/07/18/wisconsin-homes-prices-rise-into-record-territory/1694415001/?fbclid=IwAR258GpTPq8UnZD6_TT8mGyKXXElmSjN-evsRHCLj9qEv5zie_liSxjIcns
In this market, homes are selling fast! That is why it’s more important than ever to work with an experienced Realtor. Our agents have an average of 21.4 years of experience each, and nearly 38% of our realty staff has earned the Certified Residential Specialist (CRS) designation from the Residential Real Estate Council, compared to only 3% of Realtors nationwide.
Are you thinking of buying real estate in the near future? Contact us! We got this!