Is Balsam Lake, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Balsam Lake was a Buyer's Market.
Key Takeaway
Balsam Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Balsam Lake, WI
How much do homes in Balsam Lake, WI cost?
Median Sold Price
$224,900
$155/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Balsam Lake have sold for 48% more than they did a month ago.
Summary: The median home sold price in Balsam Lake was $224,900 in April 2024, up 48% from last month, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $724K | N/A |
| 2 Bedrooms | $152K | $366K | +140.8% |
| 3 Bedrooms | - | $199.9K | N/A |
| 4 Bedrooms | - | $215K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Balsam Lake housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 140.8%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Balsam Lake, WI
How many homes are available in Balsam Lake, WI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Summary: The Balsam Lake real estate market had 26 homes for sale in April 2024, a 36.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 6 | 9 | +50.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Balsam Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Balsam Lake, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Balsam Lake in April 2024, up by 350.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Balsam Lake, WI
How long does it take to sell a home in Balsam Lake, WI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 Days | 47 Days | +241.1% |
Summary: Homes in Balsam Lake had an average of 47 days on market in Apr 2024, up by 241.1% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Balsam Lake has remained consistent over time.
Summary: During April 2024, 9 homes were sold in Balsam Lake; 11% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
