As we finish 2007 there is a little bit of a rally in the local market as stability in the interest rates at around 6.75% has convinced many that now is the time to buy. There is no doubt that this is a buyers market since the inventory of homes on the market continues to outpace the number of available buyers. There is only a minimal increase in home values this year, most hovering above or below 1%. The best strategy for selling a home in this market is to price your home competitively in the first place. This will prevent both low-ball offers and a large number of contingencies from potential buyers.
The following material provided by the Wisconsin Relators Association provides an in depth look at Western Wisconsin.
The Western region of the state saw its sales volume fall by a modest 5.5 percent in the second quarter of 2007 as compared to that same quarter in 2006. Up substantially were the counties of Buffalo, Pepin and Trempeleau (+55.3 percent), which are combined in their sales reporting.
Note that this is an increase of 26 units over the period. Two counties were up slightly - Pierce County (+4.7 percent) and Eau Claire County (+1.2 percent). Dunn County was unchanged between Q2 2006 and Q2 2007, and Chippewa County was down only slightly (-0.9 percent).
However, La Crosse County dropped 10.8 percent over the period, and St. Croix County, which has seen very robust growth in recent years, cooled 20.8 percent in the second quarter of 2007 as compared to Q2 2006 on solid initial sales volume.