EAU CLAIRE (WQOW) - Eau Claire County just hit a record low, but this time in the housing market.
Eau Claire County's average days on the housing market just dipped below the national average for a home, and realtors are saying it's a good thing.
The national average for a home on the market is 69 days, Eau Claire County sits at 67 days.
The Realtors Association of Northwestern Wisconsin executive said it's a result of agents prepping their buyers for the current market, which is low on inventory, and sellers opting to pre-inspect their homes.
Once the seller accepts an offer on their property, the number of days on the housing market starts to tick-off.
"In a fast-paced market like this, I would say 90 days on market would be pretty typical. In years past, we would see 122, maybe 240 days on market, but that's when there was more inventory. Now there's less inventory, so that days on market really has cut down," said Deb Hanson, RANWW Board President.
According to the Realtors Association, appraisals take a chunk out of the 67 days that a house is on market because the process can last three weeks or more.
If the buyer has great credit, and the property qualifies for an appraisal waiver, Hanson said that could speed up the financial process even more.
In June, Eau Claire's median home price was set at $259,000, a 30% increase compared to June 2020.