A new report gives insight to housing trends in Eau Claire County
EAU CLAIRE, Wis. (WEAU) - A new report from the Wisconsin Realtors Association shows an increase of housing costs with lower inventory on homes, but in Eau Claire County the trend is different.
“In Eau Claire County the median home price actually decreased by 3.1% compared to last year,” said Julie Fox, who is the president of Six Lakes Realty and is part of the Realtors Association of Northwestern Wisconsin.
She said between that and the low inventory it could be hard to buy a home in Eau Claire County.
However she said it is better than the alternative.
“Renting prices have gone up significantly,” said Flor.
Staff at The Chippewa Valley Home Builders Association have also noticed another trend in Eau Claire County.
“What we’re seeing is that after COVID a lot of people are leaving the larger cities and coming to communities like Eau Claire where there’s a lot fantastic opportunities, things to do,” said Christina Thrun, who is a manager at the association.
She said the strain from the pandemic on getting resources to build more homes is something that should not be a problem.
“Supply chains are improving. There are definitely still some items that may have longer delays or harder to get,” said Thrun.
According to her, the association is relying on pending reports from The City of Eau Claire, The City of Altoona and Eau Claire County to help get a grasp on how much housing is needed.
“The early results are definitely showing that there’s a need for housing. We’ve a lot from our sub-contractors that they’ve got multi-family projects booked out for even a couple of years,” said Thrun.
Flor said those in the position to sell their homes, should.
“I think if I had an extra property right now that I wanted to get of my hands, I would list it now,” said Flor.
She offered these tips if you are looking to sell.
“If you get a lot of showings, it’s probably priced right. If you get a lot of offers its probably priced right. Conversely, if you list it and there’s not a lot of showings that tells you right away its over priced,” said Flor.
Or if you are looking to buy a house.
“I would suggest for people to list out all of the things they are looking for in their home buying experience,” said Flor.
She said another trend being reported is the number of years people holding on their homes is going up.
The Wisconsin Realtors Association also reports that the average number of days a house in Western Wisconsin stays on the market has gone up from 78 days to 98 days.
In Eau Claire County, that numbers has remained at a flat average of 93 days.
You can look at the full Wisconsin Realtors Association report right here.
The press release from the Realtors Association of Northwestern Wisconsin can be found here.
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