October 2023 Home Sales Press Release

Posted: 12.1.23

*****News Release*****
Demand softens as we head into off-peak season

Eau Claire, WI – New listing rose 2% in October 2023 compared to October 2022, which represented the first evidence of positive annual growth since February 2022.  The new listings pushed the total listings in the state up to 17,788 homes, 4.3% below October 2022.  As we head into the off-peak housing market, mortgage rates continue to rise, softening the demand.  Overall home sales fell by just 7.2% in October 2023 compared to October 2022, the first-time sales decline has been in the single digits since August 2022.    

  • Months of inventory increase 22.2% from October 2022 to October 2023 (2.7 months to 3.3 months)
  • Median home price increased from $260,000 in October 2022 to $280,000 in October 2023 (7.7% increase)
  • Mortgage rates have risen from 6.9% in October 2022 to 7.62% in October 2023 (up 72 basis points from last year)

Western Wisconsin is following the trend of the state with home sales staying in the single digits at down 9.7% in October 2023 compared to October 2022.  Notably, Eau Claire County home sales have only fallen 7% for the same time.  The Western Wisconsin median home price remains flat compared to the state as well at $280,000 in October 2023 compared to $263,950 in October 2022 (6.1% increase). 

  • Western Wisconsin months of inventory was 3.6 months in October 2023 compared to 3.0 months in October 2022 (20% increase)
  • Eau Claire County months of inventory is up 34.5% (3.9 months in October 2023 compared to 2.9 months in October 2022)
  • Western Wisconsin average days on the market remained relatively flat at 68 days on the market in October 2023 compared to 69 days in October 2022 (decrease of 1.4%)

“As we begin to see small improvements in the market, we are hopeful we will continue to see more,” shares Julie Flor, President of the REALTORS® Association of Northwestern Wisconsin.  “As this is still a challenging market for all home buyers, it is important for anyone that is looking to buy or sell to stay engaged as we are seeing more homes hit the market from existing homeowners.”   

If you’d like local commentary on these statistics, or the housing market in general, local real estate professionals are available for interview. Please reach out:

Media Contact
Brenda Barnhardt
(715) 835-0923

Whitney Girolamo 
(715) 835-0923

The REALTORS® Association of Northwestern Wisconsin is the professional trade association that all the professional REALTORS® residing within the association jurisdiction belong to. The association provides educational opportunities for its members, is active in local, state, and national advocacy efforts, engages in community outreach through charitable giving, operates its own foundation to help homeowners in need, and remains a positive force for the members they serve.

For more information on the REALTORS® Association of Northwestern Wisconsin, visit www.ranww.org.

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