Grab your hot bevvy of choice 🫖 and let’s dive in to 2025 Housing Market Projections, followed by a 2024 Market Re-Cap.
Today I’m having apple cranberry tea. What about you?
Okay, let’s get to the point.
2025 Projections from top economists at the National Association of Realtors:
- Rates in the 6s/7s
- More homes for sale
- Price growth will be flat/minimal
- More home building will occur
Okay - now let’s get in to those City of Fond du Lac stats. Even if you live in the vicinity, but not FDL proper, it still gives good insight.
More homes sold in 2024 than 2023. But we didn’t make it back to 2022 numbers. (Get the exact numbers from the video).
Median home price was $220k, up from $197k in 2023 and $170k in 2022. It’s been a continuous hop upwards - but not expected to do that again in 2025.
The beginning and end months of the year so 30s/40s percent wise for amount of homes selling over asking. The middle chunk (April - Sept) saw 50s/60s percent wise for amount of homes selling over asking.
Price reductions saw a similar pattern with the least amount (around a quarter) taking price reductions April thru Sept. The rest of the year saw upper 20s to 40% taking price reductions.
Quickness to accept offers…2024 was slightly less fast than 2023. With 53% of homes that sold accepting an offer in around a week’s time compared to 2023’s 62%. However both 2023 and 2024 saw 87% of homes go under contract by about a month’s time on the market. Definitely a sellers market!
Median Days on market was in the 30s/40s other than Jan/Feb, which is fast moving.
We saw a good amount more homes for sale in 2024 than 2023 - get the intricate details from the video!
Message me if you want a specific neighborhood market update for 2025 as I’m just about to start those!
Keep following in 2025 for all your housing market updates!