Housing Inventory Shortage Continues

Posted: 12.22.22

Eau Claire, WI - Home prices remain high, with Wisconsin’s median home sale in November, 2022 at $259,950 (an 8.3% increase from November, 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 12.9% since November, 2021 (from 83,999 sales in 2021 to 73,137 sales in 2022)
  • The number of new listings have dropped by 21.8% over the last 12 months. 
  • Mortgage rates have increased by 121.8% since last year (from 3.07% to 6.81%).

Western Wisconsin is following those trends with home sales down 39% from November 2021. Eau Claire specifically was down 33.3%, with 94 sales in November 2022. 

  • Eau Claire County’s median home price has increased 11% since November, 2021. (from $241,500 to $268,000)
  • Western Wisconsin has seen an increase of 9% in median home price (from $239,900 to $261,500).
  • Average days on the market in Western Wisconsin has decreased by 2.8% compared to November, 2021.

“The median home price remains high, while the inventory remains low.” according to Julie Flor, President of REALTORS® Association of Northwestern Wisconsin. “With high interest rates, we’ve seen a decline in the buyer pool due to affordability issues.”

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