November 2024 Home Sales Press Release
Posted: 12.15.24
*****News Release*****
November Housing Market Report Highlights Growth in Northwestern Wisconsin
Eau Claire, WI – November 2024 proved to be a strong month for Wisconsin’s housing market, with statewide home sales and median prices continuing their upward trend. The REALTORS® Association of Northwestern Wisconsin is pleased to report notable regional growth, demonstrating the resilience and desirability of Northwestern Wisconsin as a real estate destination.
While inventories remain tight at just 3.3 months of supply (well below the six-month benchmark for a balanced market), steady demand and strong buyer interest continue to push the market forward.
Statewide Highlights for November 2024:
- Median home price increased 8%, reaching $310,000 compared to $279,900 in November 2023.
- Home sales rose modestly by 1.7%, with 5,508 homes sold compared to 5,417 in November
- Total statewide listings grew 9%, reaching 18,783 in November 2024 compared to 17,413 in November 2023.
- Median home price surged 8%, climbing to $290,000 in November 2024 compared to $240,000 in November 2023.
- Home sales volume in the region remained steady, with 504 homes
- Months of inventory in the region increased slightly to 5 months, reflecting a still- competitive market.
- Counties like Barron and Bayfield saw double-digit growth in home prices, with increases of 37.3% and 24.1%, respectively.
- Less competition in the winter months presents unique opportunities for buyers to
Northwestern Wisconsin Regional Highlights:
Advantages for Buyers This Season:
secure homes with greater flexibility from sellers.
- The continued rate cuts by the Federal Reserve have led to more stable mortgage
rates, creating optimism for affordability in 2025.
Todd Schwartz, President of the REALTORS® Association of Northwestern Wisconsin, shared his enthusiasm for the market's performance:
"The Northwestern Wisconsin market continues to thrive, showcasing its strength as a premier location for homeowners and investors. This growth highlights our region’s desirability, and I’m confident we’ll see continued success as we move into the new year."
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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 Kristyn Kersten
(715) 835-0923 (715) 835-0923
brenda@RANWW.org kristyn@RANWW.org
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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