January 2024 Home Sales Press Release
Posted: 02.23.24
*****News Release*****
Increased inventory to start 2024
Eau Claire, WI – Marking the first year-over-year monthly increase since December 2021, Wisconsin saw a 7.4% increase in home sales for January 2024 compared to January 2023. January’s increase is opposite the 17.4% decline in sales Wisconsin experienced in 2023 compared to 2022. Lack of inventory is still at the forefront of the housing issues resulting in a continued seller’s market, driving median prices up and maintaining a low months of inventory, 2.5 months with a balanced market having six months of supply.
- Total statewide listings increased 2.0% in January 2024 compared to January 2023 (13,352 listings in January 2024 compared to 13,087 in January 2023)
- Median home price increased from $250,000 in January 2023 to $265,000 in January 2024 (6.0% increase)
- 30-year fixed mortgage rates increased 37 basis points to 6.64% in January 2024 compared to 6.27% in January 2023 (noted this has decreased since its peak of 7.79% at the end of October 2023)
Western Wisconsin is aligned with the state median price at $265,000 (up 9.1% from January 2023). Notably, Eau Claire County’s median price is $290,000 for January 2024 compared to $265,000 for January 2023 (9.4% increase). Western Wisconsin is also following the state trend with 2.5 months of inventory for January 2024 which is up from 2.2 in January 2023.
- Eau Claire County home sales increased from 54 sales in January 2023 to 57 sales in January 2024 (15.0% increase)
- Western Wisconsin home sales decreased 7.8% from January 2023 to January 2024 (from 308 to 284 sales)
- Western Wisconsin average days on the market decreased to 80 days in January 2024 from 88 days in January 2023 (decrease of 9.1%)
"Even though over the last few months we have started to see an increase in listings, we are still in a seller’s market," shares Todd Schwartz, President of the REALTORS® Association of Northwestern Wisconsin. "In January, Eau Claire County saw an uptick in home sales compared to last year, marking a turnaround after a tough period, but with prices rising and inventory still tight, it's a competitive market worth watching closely. We have a long way to go to reach the inventory levels we need, but there are positive things happening across our region."
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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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