Inventory in La Crosse County

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The inventory for La Crosse County in increasing.

In May through August, the inventory was just under eight months. In the past two months, that has increased to more than nine.

What does inventory mean, exactly?

It means how many months it would take, in theory, to sell the homes that are currently listed if no other properties came on the market.

As we see these numbers, we are able to better predict how the market is looking. (Keep in mind, though, that estimating is not a guarantee.)

easelly_visual-1

The inventory can persuade pricing. Keep in mind that the above picture and below descriptions are a rough guideline. There are no hard month-long guidelines for the market.

With one to five months inventory, there are fewer homes for buyers to chose from, so there is more competition for the ones that are listed. Sellers have much more negotiating power and prices tend to move up.

When there are about five to seven months of inventory, the market is as normal as it can be. Neither buyer nor seller has the advantage.

When there is more than seven months of inventory, things shift to the buyers because there are many houses sale. Sellers might have to lower prices or give incentives like home inspection or new roofs.

With the inventory being at 9.79, buyers are favored.

Are you a buyer that is interested in taking advantage of the market, contact us!

La Crosse Fine Homes Group, LLC, of Keller Williams Realty

Weekly links: Aug. 12

Here’s what we’ve been reading:

From our blog:

Must read/see:

From La Crosse Fine Homes Pinterest:

We hope everyone has a great weekend and if you have any suggestions, comments or questions, contact us!

La Crosse Fine Homes Group of Keller Williams Realty

Weekly links: Aug. 3

We hope you get a chance to get outside and enjoy the beautiful weather. If you are lounging around, here are some interesting links for you check out:

From our blog:

Must read/see:

  • Creative pantry solutions (via Zillow)
  • Six-story mansion has five stories underground (via Yahoo! homes)
  • The 10 most desirable DIY outdoor projects (via NAR)

From La Crosse Fine Homes Pinterest:

  • We found a few pins that were neat bathroom ideas
  • Here are some bike trail ideas
  • How to fix a running toilet

We hope everyone has a great weekend and if you have any suggestions, comments or questions, contact us!

La Crosse Fine Homes Group of Keller Williams Realty

Video Wednesday: Jumpy the dog

Hi everyone!

Here is another fun watch for Video Wednesday. Our favorite part is at the 1:15 mark.

If you have a funny video you would like to share, contact us!

La Crosse Fine Homes Group of Keller Williams Realty

Construction season

Hi everyone,

The sun is shining, temperatures have risen and sounds of a jackhammer fill the air. It’s construction season.

It’s definitely not fun to sit in stop-and-go traffic along a busy interstate for 30 or more minutes, but that’s better than driving on too-narrow roads that have potholes the size of dining room tables.

There are many projects going on around the area, some that seem to pop up out of nowhere. Orange is definitely the color of the season.

The biggest one is the Interstate-90 bridge work (timeline below) heading into Minnesota.

bridge schedule

Also along I-90 towards Sparta, the westbound road will be down to one lane until Aug. 30. The eastbound road will be under construction until mid-November.

i90 construction

Here are some more helpful links:

The 5 largest summer construction projects (via the La Crosse Tribune)

The City of La Crosse’s construction agenda (via the City of La Crosse)

Wisconsin Department of Transportation timeline

Until it ends, here are some quick tips:

  • Improve safety by slowing down and merging early when you see the first signs of work zones ahead
  • By having a little patience, being a courteous driver and by following instructions printed on signs or given by flaggers, you’ll make it safely through.
  • Be aware that there may be narrow lanes, uneven pavement and stop-and-go traffic within work zones. Remember also that fines are doubled if you are ticketed in a work zone.
  • We apologize for any inconvenience road construction might cause, however, your safety is our number one priority. And remember, you need to be fully alert when approaching and driving through work zones. Please give our workers a “brake.”

Hope everyone gets through the frustrating season safe and sound!

La Crosse Fine Homes Group of Keller Williams Realty

La Crosse County homes sales increase in June

We hope everybody’s Monday is going great.

The La Crosse Fine Homes Group was delivered good news in terms of housing numbers as the the Wisconsin REALTORS Association released the June 2013 housing statistics for the state.

La Crosse County had a busy month. Home sales skyrocketed while the median home price continued its up-and-down trend, but it’s all good news as the housing market is recovering.

All regions of the state saw healthy growth in home sales through the first six months of 2013 over last year. The regions with the strongest growth were the South Central, up 15.7 percent; the West, up 13.4 percent (that’s us!); and the Southeast, up 12 percent. Growth in the other three regions was also solid, ranging between 9.9 percent for the Central region and 7.3 percent for the Northeast region, to 6.9 percent in the North.

Specifically, June was a busy month for home sales in La Crosse County, which is usually how it is, but compared to last year, real estate agents were taking care of business in 2013. Not even the rainy months of March and April stopped buyers from getting out in the market.

As far as Monroe, Trempealeau and Vernon counties, numbers have been business as usual.

Here’s a look at La Crosse County:

Number of home sales

Jan Feb Mar Apr May Jun YTD (2013 through June)
2007 78 67 116 126 129 136 1204
2008 45 89 92 107 129 122 1119
2009 38 53 61 97 108 163 1126
2010 41 45 107 130 140 133 1024
2011 39 36 68 81 90 108 916
2012 63 57 83 105 118 133 1216
2013 79 59 120 118 151 171 773

Median home prices:

Jan Feb Mar Apr May Jun YTD
2007 137800 135000 135400 141250 150000 142450 140000
2008 136500 136800 139000 149155 151000 159750 145000
2009 141950 138000 125000 134500 129500 138900 137000
2010 137500 140000 139900 137500 127100 145000 138000
2011 125000 122500 134500 127500 137250 141250 140000
2012 130000 130000 137000 127000 152250 145000 145500
2013 148900 128500 138525 147750 139000 154900 144900

Here’s a look at the region:

west housing

According to the WRA’s press release, Wisconsin home sales rose an  11.4 percent in the first six months of 2013 compared to last year. In June alone, Wisconsin home sales were up 3.1 percent relative to last June, posting the 24th straight month of positive sales growth in the state. Median prices also continued to increase year-to-date, rising 7.7 percent to $140,000 compared to the first half of 2012. In June, prices were up 12.3 percent to $159,500 compared to June 2012.

The high prices aren’t a bad thing for affordable housing, as homes in Wisconsin remain a good value. The Wisconsin Housing Affordability Index (HAI) showsthe percent of the median-priced home that a buyer earning the estimated median family income can afford to buy, assuming current mortgage rates and a 20 percent down payment. In June, the index was at 214, indicating that a household with median family income of $63,100 can afford to buy 214 percent of the median priced home of $159,500. This is down from 239 in May and significantly below its peak of 292 in January of this year.

Were you one of the recent home sellers/buyers?

Have a great week and give us a follow on Facebook, Twitter or Pinterest to keep that boredom away.

La Crosse Fine Homes Group of Keller Williams Realty