How’s The Market – February 2024

Spring in February? The weather sure feels like it…and so does the Oshkosh housing market. Let’s look at a recap of the January 2024 statistics vs. January 2023: 

  • The number of new listings almost DOUBLED compared to last January. I mentioned in my annual report that early in January things “felt” like they were picking up. More calls from sellers, more interest from buyers, and more folks talking with their mortgage professionals. Here is proof that it wasn’t just a feeling. This is a great leading indicator that the spring housing market is set to be strong. 
  • The total homes sold was also up 17% which means that December and November of 2023 were more active than the previous year. 
  • Median sales price came in at $200,000 which was up 14% over last year at this time. 
  • Average listing price compared to sales price rose 1% to 100%. Meaning that on average sellers are getting exactly what they are asking for their homes. Of course, averages also mean that some are lower and some are higher. 
  • Median days to sell is 48 days…so still around that 1 week mark it takes from the time a home hits the market for sale until they accept an offer. 

Overall this is a very encouraging report. More homes hitting the market is good for buyers. Prices continuing to rise is good for sellers. Homes selling quickly is good for everyone as the market continues to move forward. I’m expecting a strong first quarter for Oshkosh housing.