Report: Wisconsin's home prices increase as sales decline moderately

Posted: 12.27.23

Report: Wisconsin's home prices increase as sales decline moderately

EAU CLAIRE (WQOW) - A new report states Wisconsin's home prices are increasing even as sales decline moderately. This also stands true in Eau Claire County.

According to the report, Wisconsin's home sales fell 3.4% in November, in comparison to November last year.

In Eau Claire County, average home sales are down 20% which comes out to 270 homes. To date, the median price of a home in Eau Claire is up about 10%. That averages to approximately $193 more in monthly payments between this year and last year.

The board president of the REALATORS Association of Northwestern Wisconsin said people are always selling their homes due to job changes, death, divorce, children, and more. However, some people are not motivated to sell right now because they don't want to double their interest rate when they buy a different home.

"Rates have been going up because the feds have been increasing their rates. That's the money that they give to the banks. So, that's why you are seeing higher interest rates for your savings accounts and even checking accounts are getting some interest. But, that also means the cost for banks to loan money has gone up too. As a result, mortgage rates have gone up too," said Julie Flor, president of REALTORS Association of Northwestern Wisconsin.

Click here to find the November 2023 WI Real Estate Report.

Click here to get the full article and news clip. 

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