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The mill pond in Cedarburg, Wisconsin. Photo by Kevin Hansen via Wikimedia Commons, CC BY-SA 3.0.
September brought steady activity along with some signs of a more selective housing market in Cedarburg. Sales remained consistent with August, while inventory stayed limited and homes took slightly longer to sell.
Buyers also appeared somewhat less willing to meet sellers’ asking prices during the month. At the same time, September’s closed sales finished above the year-to-date averages. The numbers don’t point to a simple decline in home values.
Market Activity
Twenty-one homes sold in Cedarburg during September, bringing the year-to-date total to 158.
Seventeen new listings came to market during the month, while 32 homes were available for sale. With fewer new listings than closed sales, the overall supply of homes remained relatively limited.
Prices
The average sale price in September was $662,993, above the year-to-date average of $637,235.
The median sale price reached $675,000, compared with $601,772 year to date.
The average sale price per square foot was $270, slightly below the year-to-date average of $277.
September’s higher average and median sale prices reflect the mix of homes that closed during the month. They shouldn’t necessarily be interpreted as a broad increase in Cedarburg home values.
Pace
Homes sold in an average of 23 days during September, compared with approximately 21 days year to date.
Sellers received an average of 98.92% of list price, compared with 102.3% year to date. One month doesn’t establish a new trend. Still, the change suggests buyers were somewhat less willing to meet higher asking prices than earlier in the year.
I’m also seeing more homes remain on the market longer in some surrounding areas. That reinforces the importance of pricing appropriately from the start. A home can still attract strong interest, but sellers may need to be more thoughtful about how a property is positioned.
Inventory
Cedarburg had 32 homes available for sale during September, resulting in a 1.52-month supply of inventory.
That’s only slightly higher than the year-to-date figure of 1.43 months, and inventory remains limited overall. Buyers may have a little more breathing room than during some of the more competitive periods earlier this year. Still, Cedarburg has relatively few homes available for sale.
Home Flow Insight: Use Lighting to Improve the Showing Experience
As daylight becomes more limited in fall, lighting becomes an increasingly important part of how a home feels during a showing.
Before buyers arrive, open blinds and curtains where natural light helps. Replace burned-out bulbs and turn on lamps and overhead lighting throughout the home. Pay particular attention to hallways, lower levels, bathrooms, and rooms with limited natural light.
It can also help to keep the color temperature of bulbs relatively consistent within the same room. A mix of very warm and very cool lighting can make a space feel less cohesive.
The goal isn’t simply to make every room as bright as possible. Good lighting helps buyers clearly see the home. It can also create a more comfortable and welcoming experience as they move through it.
Looking Ahead
September’s numbers suggest Cedarburg remained active while becoming somewhat less forgiving of ambitious pricing. Inventory was still limited at a 1.52-month supply. However, homes took slightly longer to sell, and the average sale-to-list ratio moved below 100%.
For sellers, this makes preparation and pricing increasingly important. The strong competition we’ve seen in recent years can make it tempting to assume buyers will accommodate almost any asking price. September’s numbers suggest sellers may need to be more thoughtful about how a home is positioned in the market.
For buyers, the shift may provide a little more opportunity to evaluate a property and negotiate. They shouldn’t necessarily assume every home will require an above-asking offer.
As we move further into fall, I’ll continue watching inventory, days on market, and the relationship between asking and sale prices. We’ll see whether this more selective environment continues.
Dillon Reed, REALTOR®
Coldwell Banker Realty
262.305.5704
dillonreedrealestate.com
