Walworth County, WI Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is it a good time to buy a house Wisconsin? ›

The months from March to June are the best time to buy a house in Wisconsin. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

Wisconsin Real Estate Market Statistics

Currently, the sale-to-list price ratio is at 98.50%, with an incline of 0.5 pt YoY compared to January 2023. Home Sales: As per January 2024 data, home sales increased by 6.5% YoY! In January 2024, only 3,331 homes were sold, up from 3,127 in January 2023.

Known as the Aloha Lodge, a 16,000-square-foot mansion in Lynn, WI, ranks as the state's priciest home for sale. This mansion, which dates back to 1900, hugs Geneva Lake and was transformed in 2011 via a four-year renovation by custom-home builder Hummel Construction.

It's legal to sell a house by owner in Wisconsin, but state law makes advertising FSBO listings more challenging than in other states. If you're planning to sell to someone you already know, as many FSBO sellers do, that's not a problem and you save a listing agent's commission.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

Today's rate

Today's mortgage rates in Wisconsin are 6.452% for a 30-year fixed, 5.643% for a 15-year fixed, and 7.701% for a 5-year adjustable-rate mortgage (ARM).

There are currently 22,018 homes for sale in Wisconsin. The median list price in Wisconsin is $359,900 and the average price per square foot is $186.

The state average cost to build a new home in Wisconsin is $310,000 to $600,000, with most homeowners spending around $425,000 on a 2,000 sq. ft. 4-bedroom, 2-bath modern colonial home built using traditional methods. This project's low cost is $150,000 for a 1,500 sq.

Investing in Wisconsin real estate can be worthwhile, as indicated by increased median sale prices and consistent market performance, making it an attractive place for investors to look for investment strategies and opportunities.

The richest city in Wisconsin is Chenequa in Waukesha County with an average household income of $397,324 as of 2022.

Where is the most affordable housing in Wisconsin? ›

Marinette

With rental costs below the national average, Marinette stands as one of the most affordable cities to live in Wisconsin. The house rent price is between $688 – $999. Marinette offers a vibrant cultural scene with activities including ballet, opera, drama, choral societies, art galleries, and museums.

1. The State of Wisconsin. The state of Wisconsin is the largest landowner in the state, owning around 5.7 million acres of land. The land is used for conservation and recreation, including state parks and wildlife.

It is highly recommended that both buyers and sellers have a lawyer during FSBO real estate transactions.

Whether you're a buyer or seller, you need your own legal advisor who will look out for your interests. Because the buyer's and seller's interests differ, it's not a good idea for both parties to use the same attorney. In time of chaotic real estate markets an attorney's assistance is especially important.

Wis. Stat. § 452.03 prohibits the sale, rental, or negotiation of real estate without a Wisconsin real estate license.

At the same time, the state continues to face a housing shortage. As of 2022, the state needed to add between 140,000 and 227,000 housing units by 2030 to keep up with demand and accommodate growing its working-age population, according to a report from the Wisconsin Counties Association.

Wisconsin is known for having a relatively low cost of living compared to other states in the US. Housing costs, in particular, are relatively affordable, with a median home sale price of $323,900. You can find affordable rent throughout Wisconsin as well.

The rise in home costs is tied to declines in housing construction following the 2008 Great Recession, the report said. Since 2010, according to the study, the number of households in the state has increased by more than 211,000, but less than 145,000 housing units have been permitted, creating a 67,000 deficit.

If your credit score is strong, your employment is stable and you have enough savings to cover a down payment and closing costs, buying now might still be smart. If your personal finances are not ideal at the moment, or if home values in your area are on the decline, it might be better to wait.