Скачать или смотреть August 2024 City of Fond du Lac Housing Market Update

Data that shows change! August is an important month to dissect for the City of Fond du Lac Housing Market.

Competitive? Yes, but less than it was. Of August’s solds, 63% sold at or above asking price (Down from 80% last month). We have seen this late fall/early winter the past few years…but August is too soon to be seasonal. I believe there is more to this than seasonality for how soon it appeared this year. Of those homes that sold over, $5k and $15kish over was most common.

Market Pace? Still fast, but not as fast. About 72% of homes that sold in August accepted an offer in about 2 weeks or less (last month was 80%) and 21 % of the homes that sold took a price reduction, just up a few percentage points from last month.

It’s still a seller’s market for sure, but notice the dominance is slightly slipping.

The inventory situation is the biggest thing to talk about. Inventory continues to climb. We hit 107 homes on the market, which is the most inventory we’ve seen in 2 years. Last year this number was 79!

Of these 107 homes, they are split 50/50 for under contract vs available. In the past few years, this split has occurred late fall/early winter. Being August, it is happening too soon to call it specifically seasonal. I believe there is more at play, of heading toward balance. Another reason I think this? 76% of the completely available homes have been on the market for 2 weeks+ (up from 60% a month ago) - that means only a quarter of the completely available homes are fresh inventory.

Finally - Affordability.
Median Home price stays consistent in the low $200s and rates are around 6%!

Sellers, if you want to keep the sellers market rolling, put in the work to prep your home for sale, and then price it right.

Buyers, Hip Hip Hooray - rates are coming down, there are more houses to choose from, and not every situation is competitive!