Sun Prairie Housing Market

by John Reuter

How is the Sun Prairie housing market? While 36% of the homes had multiple offers, 39% did not. Of the 39% that did not have multiple offers, 63% of them had price reductions ranging from $10,000 to $30,000. So, what does this mean?

Sellers: Working with an experienced agent that is familiar with the current market trends and pricing is critical when listing your home. When homes are listed over what they are worth they typically sell for less than if they were priced correctly. When talking with multiple agents about your home, don't just automatically pick the agent that says your home is worth the most money. It could end up costing more in the long run.

Buyers: We have all seen in the news that interest rates are going up from where they were. What you are not being told is that the predictions are they will go back down 1-2% in the next couple of years. That will spark more competition than we are currently seeing. My suggestion is to find a home you love now, have an interest rate that is a bit higher, and refinance to a lower rate in a couple of years. Home prices go up on average 3-5% percent per year (historically) so you will gain equity and be putting your money towards something vs. renting.

Have more questions on the housing market or want to know the statistics for a different area? You can contact me John Reuter at 608-669-4226 or by e-mail john@integrityhomeswi.com

John Reuter

Broker/Owner

Integrity Homes

608-669-4226

john@integrityhomeswi.com

Brokered by Real Broker, LLC

*Information and statistics current as of 12/8/2022. Data retrieved from SCWMLS.