Houses are turning around faster than ever in Wisconsin as the state ranks fourth quickest in real estate sales.
Wisconsin real estate sales average 28.93 days, improved from last year’s 32.82 days, according to Zillow data analyzed by RubyHome Real Estate. Its number four ranking in the country makes Wisconsin the fastest state in the Midwest to close on a house sale and the only in the region to have an average sale time under 30-days.
“Though the national average to close a sale in real estate is 33.5 days, market conditions can make this figure higher or lower,” said a spokesperson for RubyHomes. “For a fast sale, looking at pricing a home competitively and realistically is essential, utilizing strategies such as dropping the price below a rounded number.“
Wisconsin also beat the national average for a home sale. A combination of factors come into play for a home sale, such as pricing and current competitiveness in the market. Wisconsin is outranked by Idaho at 28.75 days, Nevada at 27.45 days, and Utah as the quickest state to close on a home sale at 27.07 days.
“In hot markets where sales activity is high, selling a home can take longer than the average due to a limited workforce of property appraisers and inspectors. The number of homes on the market can also affect the time it takes to close a sale, with rural areas becoming more popular and affordable than inner-city areas,” said RubyHomes.
The average home price in Wisconsin is currently $288,596, according to additional Zillow data. Compared to Idaho, Nevada and Utah, the average price for a Wisconsin home sits at over $140,000 less than each of the states on the list.