June 2020: Covid19's impact on Wisconsin home prices
Why it's a great time to sell in Wisconsin
Posted: June 23, 2020 by Steve Kasimatis
If you had planned to sell your home this year but are now unsure whether it's a good time, I can assure you it's a good time to sell. In my 24 years of selling homes in Southeastern WI, I have rarely seen this many home-buyers flooding to our websites.
Here's what you need to know:
1. Buyer interest is up
Potential buyers are looking to improve their work-from-home environments and have more time to search today. So while we have a prolonged Covid 19 stay-at-home policy, real estate transactions in Wisconsin are still very much happening.
2. Supply is low, prices are strong
In 2000, we started rising to the 2007-08 “bubble”, causing home values to dip to pre-2004 values. Home values rose since 2012 and recovered by 2016/17. Since 2017, we have been at a steady 4-5% increase in values. Current conditions with Covid 19 have not brought prices down but we have seen a dramatic drop in the number of available homes. This low supply combined with the recent uptick in buyer demand are creating a sellers' market.
Why are people selling?
Here's a list of common reasons I see people selling:
Feel free to share your own experiences, message me on my Facebook page, or call me directly 414-640-5773 about your buying/selling questions. Let's talk - my consultations are free of charge.
- Financially I need to sell or because of a job relocation or a divorce
- My home is too small / too large
- I need to sell a parent’s property or have been appointed as an estate representative
- I don’t have to sell now but...
- I'd like to be more financially liquid
- I'd like to retire to a different location
- I'd like a home with less maintenance or that is already updated
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Steve Kasimatis, Coldwell Banker Global Luxury Realtor: Award-winning agent with 24 years of successful home sales and purchases across Southeastern Wisconsin
Milwaukee Magazine's "best in client satisfaction" for 12 consecutive years (2008-Present)
Marquette University Graduate 1980 and 1986; Licensed Professional Engineer