October 2007 Eau Claire Real Estate Market Trends
Residential Properties in the Eau Claire School District
Number of Homes Sold
Through October of 2007, 874 residential homes have sold in the Eau Claire School District. This is down about 5% from the 923 sold at the end of October 2006; and this is down about 17% from the 1052 homes sold at the end of September 2005. There were fewer homes sold in October 2007 than any other month in 2007.
Pending Sales
October 2007 has the lowest number of pending home sales in the Eau Claire School District (37) since December 2005 (29). The fact that this low number of pending sales is not occurring in a winter or holiday month indicates that the real estate market is slow.
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. So far in 2007 the average is 122 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 real estate downturn. In 2005, the average selling price was $148,700. In 2006 the number increased to $151,300. So far in 2007, the average selling price of a home in the Eau Claire area has been $157,200. This represents an appreciation rate of roughly 2.5% per year.
New Listing Activity
The number of new listings for sale is down sharply since 2005. Through October of 2005, there had been over 3550 new listings in the Eau Claire School District. Thus far in 2007, there have only been 1450. There were more than twice as many new listings in 2005 as there have been thus far in 2007.
