$4,630 Closing Credit*
$389,900
2,184 SqFt
3 Beds
•1 Full Bath
Listing Office: Realty Group LLC
Is Balsam Lake, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Balsam Lake has remained a Seller'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
$380,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$85,000(+28.8%)
Key Takeaway
Homes in Balsam Lake have sold for 28.8% more than they did a year ago.
Summary: The median home sold price in Balsam Lake was $380,000 in November 2024, up 28.8% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $440K | +104.7% |
| 2 Bedrooms | $274K | $435.2K | +58.9% |
| 3 Bedrooms | $295K | $235K | -20.3% |
| 4 Bedrooms | $360K | $720K | +100.0% |
| 5+ Bedrooms | $1.2M | - | N/A |
Summary: Balsam Lake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 104.7%, 2 bedroom homes increased by 58.9%, 3 bedroom homes decreased by 20.3%, 4 bedroom homes increased by 100%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 39 | -18.8% |
Summary: The Balsam Lake real estate market had 39 homes for sale in November 2024, a 18.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 23 | 17 | -26.1% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Balsam Lake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 26.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Balsam Lake, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Balsam Lake in November 2024, the same as the previous month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 50 Days | 27 Days | -45.8% |
Summary: Homes in Balsam Lake had an average of 27 days on market in Nov 2024, down by 45.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Balsam Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Balsam Lake; 30% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
