Is Superior, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Superior has remained a Seller's Market.
Key Takeaway
Superior is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Superior, WI
How much do homes in Superior, WI cost?
Median Sold Price
$200,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Superior have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Superior was $200,000 in May 2024, up 7.5% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $109.5K | $148K | +35.2% |
| 2 Bedrooms | $160K | $170.5K | +6.6% |
| 3 Bedrooms | $194K | $222K | +14.4% |
| 4 Bedrooms | $260K | $252.5K | -2.9% |
| 5+ Bedrooms | $360K | $228.2K | -36.6% |
Summary: Superior housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.2%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 14.4%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 36.6%.
Median Sold Price Compared To Nearby Cities
| South Range | $240K | $302.4K | +26.0% |
| Parkland | $240K | $299K | +24.6% |
| Duluth | $252.5K | $300K | +18.8% |
| Superior | $186.1K | $200K | +7.5% |
Housing Supply in Superior, WI
How many homes are available in Superior, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 83 | 118 | +42.2% |
Summary: The Superior real estate market had 118 homes for sale in May 2024, a 42.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 18 | 28 | +55.6% |
| 3 Bedrooms | 45 | 63 | +40.0% |
| 4 Bedrooms | 16 | 23 | +43.8% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Superior housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 55.6%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 43.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 28 | +64.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Superior, you could pay more than the asking price. 65.4% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Superior in May 2024, up by 64.7% month-over-month. Of the 26 sold homes, 27% were sold under asking, 8% were sold at asking, and 65% were sold over asking.
Days on Market for Superior, WI
How long does it take to sell a home in Superior, WI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 17 Days | +21.5% |
Summary: Homes in Superior had an average of 17 days on market in May 2024, up by 21.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Superior are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 28 homes were sold in Superior; 11% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
