Home Prices Remain High

Posted: 11.20.22

Eau Claire, WI - Home prices remain high, with Wisconsin’s median home sale in October, 2022 at $260,000 (an 6.1% increase from October, 2021). These high prices can in part be attributed to a lack of inventory available throughout the state. Here are the current statewide stats for Wisconsin:

  • Year-to-date home sales have dropped 11.2% since October, 2021 (from 78,086 sales in 2021 to 67,550 sales in 2022)
  • The number of new listings have dropped by 24% over the last 12 months. 
  • Mortgage rates have increased by 124.8% since last year (from 3.97% to 6.90%).

Western Wisconsin is following those trends with home sales down 29.7% from October 2021. Eau Claire specifically was down 27.6%, with 110 sales in October 2022. 

  • Eau Claire County’s median home price has increased 9% since October, 2021. (from $246,700 to $268,850)
  • Western Wisconsin has seen an increase of 4% in median home price (from $249,900 to $260,000).
  • Average days on the market in Eau Claire decreased by 12.7% compared to October, 2021.

“With mortgage rates increasing we’re seeing a decline in people actively searching for a home,” according to Julie Flor, President of REALTORS® Association of Northwestern Wisconsin. “Until we have more inventory available and lower mortgage rates, we’re unlikely to see a drastic change in the market.”

LOOKING FOR EXTRA HELP?  Click here to visit our Helpful Links.