December 2007 Eau Claire Real Estate Market Trends
Residential Properties in the Eau Claire School District
Number of Homes Sold
In 2007, 972 residential homes sold in the Eau Claire School District. This is down about 7% from the 1044 sold in 2006; and this is down about 18% from the 1187 homes sold in 2005. There were fewer homes sold in December 2007 than any other month in 2007.
Pending Sales
Pending sales are down 50% from November. There were fewer pending sales in December 2007 than at any time in the last 3 years.
Days On Market (DOM)
The number of days the average home spends on the market has slowly been creeping up. In 2005, the average DOM for homes in the Eau Claire School District was 111. In 2006 it was 113. In 2007 the average was about 120 days. Note - the Days on Market numbers are only for homes that have sold.
Average Selling Price
The average selling price of homes in the Eau Claire School District has continued to rise despite the downturn in activity level. In 2005, the average selling price was $148,700. In 2006 the number increased to $151,300. In 2007, the average selling price of a home in the Eau Claire area was $155,600. This represents an appreciation rate of roughly 2.5% per year. NOTE: The actual average of $155,600 does not correspond with the average on the graphic because the average on the graphic above is an "average of averages" and is only intended to be a snapshot in time.
New Listing Activity
The number of new listings for sale is down sharply since 2005. In 2005, there had been almost 4,000 new listings in the Eau Claire School District. In 2007, there were only 1630. There were more than twice as many new listings in 2005 as there have been in 2007. Historically, November and December are the slowest months for new listings, and that remained true in 2007.
