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Local housing inventory lower than state average
Posted: 05.30.23
EAU CLAIRE (WQOW) - Looking to buy a home in Eau Claire? According to the Realtors Association of Northwestern Wisconsin, the median price for a home in Eau Claire County is down 6 percent, compared to April 2022.
That median price is $272,000. In addition to the drop in median prices, compared to last year at this time the number of home sales have also gone down by 37 percent, while mortgage rates have increased by 27 percent this year in Western Wisconsin.
Despite this, experts say that its a sellers market. According to Julie Flor, president of RAANW, inventory of homes is low — especially in Eau Claire where inventory average is below the state average.
"I recommend if you are wanting to sell your property, that you try to this year because the experts are saying that you're going to get more right now, than you will in the upcoming years," Flor said.
While the housing market is considered a sellers market for now, Flor said its expected to become more balanced as the year progresses. For renters despite the higher mortgages and low inventory, Flor recommends buying a home as an investment opportunity.
Watch the story here.
That median price is $272,000. In addition to the drop in median prices, compared to last year at this time the number of home sales have also gone down by 37 percent, while mortgage rates have increased by 27 percent this year in Western Wisconsin.
Despite this, experts say that its a sellers market. According to Julie Flor, president of RAANW, inventory of homes is low — especially in Eau Claire where inventory average is below the state average.
"I recommend if you are wanting to sell your property, that you try to this year because the experts are saying that you're going to get more right now, than you will in the upcoming years," Flor said.
While the housing market is considered a sellers market for now, Flor said its expected to become more balanced as the year progresses. For renters despite the higher mortgages and low inventory, Flor recommends buying a home as an investment opportunity.
Watch the story here.
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