$3,919 Closing Credit*
$330,000
960 SqFt
2 Beds
•1 Full Bath
#1586832, Gwen Anderson, Listing Office: eXp Realty 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 October 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
$350,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,500(+6.9%)
Key Takeaway
Homes in Balsam Lake have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Balsam Lake was $350,000 in October 2024, up 6.9% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165.5K | $440K | +165.9% |
| 2 Bedrooms | $245K | $445K | +81.6% |
| 3 Bedrooms | $295K | $259.9K | -11.9% |
| 4 Bedrooms | $360K | $425K | +18.1% |
| 5+ Bedrooms | $1.2M | - | N/A |
Summary: Balsam Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 165.9%, 2 bedroom homes increased by 81.6%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes increased by 18.1%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 51 | 48 | -5.9% |
Summary: The Balsam Lake real estate market had 48 homes for sale in October 2024, a 5.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 14 | -12.5% |
| 3 Bedrooms | 28 | 24 | -14.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Balsam Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Balsam Lake, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Balsam Lake in October 2024, down by 16.7% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 65 Days | +135.0% |
Summary: Homes in Balsam Lake had an average of 65 days on market in Oct 2024, up by 135% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Balsam Lake has remained consistent over time.
Summary: During October 2024, 10 homes were sold in Balsam Lake; 0% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
