Housing market in Wisconsin up significantly

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EAU CLAIRE, Wis. (WEAU) -- Business is good when it comes to selling or buying a home in Wisconsin; more houses were sold in the first quarter of 2016 since 2007 in Wisconsin according to the Wisconsin Realtors Association.

"Typically spring and summer months are our busiest months,” Joe Germain, President of the Realtor Association of Northwest Wisconsin, “but it started earlier this year; it started in March."

Germain knows the number of homes sold in Eau Claire has dropped 10% from the first quarter of 2015 to this year's first quarter, but he says the numbers can be misleading.

"One of the reasons it's down is the lack of inventory," Germain said. "If we had more inventory, the prices would be up. Sometimes the numbers you look at, the statistics, they're off a little bit because our listings, our homes, are down because they're being sold as soon as they're getting listed."

With a relatively smaller number of houses on the market, some sellers in the Eau Claire area don't seem to be having any trouble finding potential buyers.

"We've been on the market for about 30 days now and we've had more than 20 viewings,” Terry Chmielewski of Eau Claire said. “We've already had one offer that we could turn down because we know that it wasn't good compared to what we can get."

"The market is phenomenal,” Germain said. “We're seeing homes listed and 4-5 offers on the homes being listed. I haven't seen the buyers' confidence this fantastic since 2007."

And that confidence is radiating from those selling their homes. The large number of offers on homes allows them to be more selective when choosing a buyer.

"We're pretty confident; that's why we turned down the first offer that we got,” Chmielewski said. “We've only been on the market 30 days; I only look to it as being very good."

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