Somerset WI 2023 – What Sellers need to Know

This video talks about the most current housing market and how it is dramatically changing for Somerset WI and the surrounding area through September of 2022. Up to this point in time, Somerset appears to be completely insulated from home values dropping like most communities in Western WI. However, this is mainly a result of new construction vs existing single family home sales. The median housing market sales appreciated an amazing 24.8% for a $72,500 gain over the past 12-months, and the average sale price appreciated 27.2% for a $83,400 appreciation. An astute observer might want to keep an eye on when comparing September of 2021 to September of 2022 average sale price only increased 5.3%. Watching what happens in Somerset’s housing market in the next few months is worth monitoring, particularly with so many new construction buyers canceling contracts. Home sellers in 2023 need to exercise significant due diligence in finding very successful Realtors who have a strong marketing plan to showcase the home better than the competition if they desire the best price and terms for their home.