Appleton, Wisconsin is a thriving Green Bay commuter town and home to the acclaimed Lawrence University. Long hailed as a safe, family-oriented slice of suburbia, the area demographics has experienced a significant shift in recent years. The 2010 census reported a surge in single resident population growth and the dwindling of rental properties as home ownership grew in popularity.
Buyers Beware: Prices Are on the Rise
With the close of 2016, the delicate scale of supply and demand balancing the health of the Appleton real estate market was tipped in the favor of the seller. According to the Wisconsin Realtors Association, median home sale prices last year topped $140,000, the highest since the market boom of 2005-2006. Home sales were at a ten-year high with average time on the market at a corresponding ten-year low. In the past year alone, home prices have made a 21% year-over-year increase. By all accounts, Appleton, Wisconsin is a seller’s market entering the spring of 2017.
Neighborhoods in Appleton
The city of Appleton is divided into sixteen distinct neighborhoods that range from park-like to suburban and from historic to contemporary. Buyers have been flocking to the area because of the high-rated school systems, low rate of violent crime, easy highway commute, and local access to the arts.
As prices rise and the city hits a new stride, neighborhoods on the outskirts have seen remarkable improvements as revitalization efforts breathe new life into the area. For affordable starter homes in up-and-coming areas, check out neighborhoods to the south and west of Appleton’s downtown.
Advice for Appleton Home Buyers
In a seller’s market, the buyer is at the mercy of the market. Expect to pay a little more than you may have hoped and to have fewer options available to you. Expanding your search to areas outside of the downtown area may open up possibilities that you had not considered. Don’t forget the old adage, though, ‘Location, location, location.’ The only thing that you cannot change about your new home is where it is located.
Perhaps a smaller home in the right neighborhood can be expanded when time and finances permit. Maybe a turn-key home was what you had in mind, but a fixer-upper can be transformed into your dream home. You might even consider trimming your list of ‘must haves.’ Do you really need the fireplace, the garage, the in-ground pool and the master suite?
In the end, when you find the home of your dreams, be ready to put in an offer. Houses are selling quickly and you have some fierce competition in the hordes of qualified buyers searching in the same small pool of available homes. If you take too long to consider your options, it may very well be snapped up from right under your nose.
A Real Estate Agent: Your Inside Edge
If you aren’t already working with a buyer’s broker who knows the Appleton real estate market well, contact a local agent today! Working with a certified real estate agent will not cost you any additional money, but affords you a multitude of tools to help you find the home you want at a price you can afford.