Village Realty cover for March

Graphic by Emily Brendel

As of today, there are only about 40 single-family homes on the market in Sheboygan County that don’t have an offer pending.

According to Renee Suscha, broker and manager of commercial development for Village Realty & Development, that creates a real problem for home buyers but a real opportunity for home sellers.

“With housing demand so strong and the housing inventory so low, this is the strongest seller’s market we’ve seen in years,” she said.

In 2021, Wisconsin saw a record number of home sales for the month of January with 4,777 homes sold, according to the Wisconsin Realtors Association. Due to inventory constraints, that number fell to 4,578 in January of 2022 – a 4.2% decrease. However, this January’s sales were still the second highest for the month since the WRA re-benchmarked its data collection protocols in 2005, suggesting demand remains very strong.

As a result, the statewide median home price rose more than 10% from the year prior to $231,000.

Meanwhile in Sheboygan County, 85 home sales were recorded by the WRA in January 2022, down from 97 in for 2021. The median home price in January 2021 sat at $160,000, rising to $199,900 in January of this year.

According to the WRA’s data for January 2022, that 24.9% average price increase for Sheboygan County was the highest by far in the southeast region containing Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Washington and Waukesha counties.

Kenosha County recorded the next highest spike at a 12.7% price increase.

“Buyers can expect to see bidding wars again this spring,” Suscha said. “With everything going on in the world today, sellers shouldn’t expect the value of their home to continue to climb at the same pace it did in recent years. There is a good possibility that we are seeing the peak in this housing market right now.”

Michael Theo, president and CEO of WRA, recommends that working with a Realtor who knows the local market is the quickest way to increase the likelihood of success in such a tight market.

“With a limited number of homes on the market, this is a great time to list your home,” Suscha said. “The experts at Village Realty & Development will help you price your home appropriately to get top dollar. At no charge, the Realtors at Village Realty can prepare a market analysis for you that indicates the current value of your home.”

To reach Village Realty & Development, call 920-457-1075.

Village Realty & Development is part of the Sheboygan Sun’s Preferred Business Sponsor program.

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