September Home Sales Press Release
Posted: 10.19.23
*****News Release*****
Continues to be a seller’s market
Eau Claire, WI – Wisconsin continues to see a strong seller’s market as we close out the third quarter for 2023. Homes sales fell 21.7% during the first 3 quarters of the year compared to the same time frame in 2022. The rise in mortgage rates continues to affect both the selling and buying side of the market. Months of inventory remain relatively consistent at 3.3 months of inventory which is up 17.9% over September 2022. We are still below the balanced inventory of 6 months of inventory.
- Home sales decreased 18.4% from September 2022 to September 2023 (7,602 to 6,205)
- Median home price increased from $270,000 in September 2022 to $295,000 in September 2023 (9.3% increase)
- Mortgage rates have risen from 6.11% in September 2022 to 7.20% in September 2023 (up 109 basis points from last year)
Western Wisconsin is flat with the statewide median price of $295,000 for September 2023. This is a 10.5% increase compared to September 2022 when the median price was $267,000. Western Wisconsin is experiencing slightly higher inventory with 3.5 months of inventory compared to September 2022 with 3.0 months of inventory. Notably, Eau Claire County saw a median home price of $285,000 for September 2023 which is flat to September 2022.
- Western Wisconsin home sales decreased from 680 sales in September 2022 to 592 sales in September 2023 (12.9% decrease)
- Eau Claire County September home sales decreased 29.2% from 144 sales in September 2022 to 102 sales in September 2023
- Western Wisconsin average days on the market were 67 days for September 2023, a decrease of 5.6% from September 2022
“We continue to see a seller’s market across Western Wisconsin,” shares Julie Flor, President of the REALTORS® Association of Northwestern Wisconsin. “We have not gotten a break in mortgage rates which is affecting not only first-time home buyers but also potential sellers. They are not willing to sell their current home to have to pay higher rates for a new one.”
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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
(715) 835-0923
brenda@ranww.org
Whitney Girolamo
(715) 835-0923
whitney@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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