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The sales of existing homes grew rapidly in January 2016, which is putting strong upward pressure on prices, according to the most recent analysis of the Wisconsin housing market by the Wisconsin REALTORS® Association (WRA). Home sales in January jumped 10.4 percent over January 2015, and statewide median prices surged 10.1 percent over that same period, increasing to $148,700.
Compared to the same month last year, sales were up 10.2 percent in December and 10.4 percent in January. The most robust sales growth occurred in the Northeast, which increased 17.2 percent.
After many years of decreasing property values, we have now seen values start to rise. We did not chase these values when they were on the way down in the recent housing recession, and we are not following them as they rise, in order to maintain equity. We do not chase sales, but are concerned with maintaining the uniformity of assessed values, so that similar homes have similar assessed values. If you have a question regarding the validity of your assessment, please use our website to check assessed values on similar properties in your area as compared to your assessment. Quality of construction, age, size, and location are just a few of the benchmarks used for comparison. Our job is to be fair in our assessments. A recent appraisal is only helpful in pointing out other similar properties. As a comparison, you would take those comps, and see what the assessed values are for those properties. Please call our office at 920-448-3066 if you have any questions regarding the value of your property. Remember, we do not set the tax rate and cannot lower your taxes, we can only review your assessment to determine whether or not it is reasonable when compared to the assessed values of similar properties.