La Crosse County Housing Market Not as Hot as a Year Ago, But Still Competitive

Monthly home sales are down about 18% from April 2024 -- but that's because last year was an exceptional year, said Mike Pietrick, president of the La Crosse Area REALTORS Association. According to a report from the Wisconsin Realtors Association, 92 homes sold in La Crosse County versus 112 this time last year. The median home price is down about 6% at $304,100. Pietrick says realtors look at the number of months inventory they have of homes for sale as a health indicator for the market. They remain at three months. Six months is considered healthy, implying La Crosse's market is tight. Of concern to Pietrick is the average age of a new homebuyer - which is now over 30 years old. He says this indicates housing affordability is an issue, with it taking longer for people to purchase. This is alarming, per Pietrick, because housing is the greatest builder of wealth. The elected leader of the REALTORS Association says the market remains competitive with multiple offers on homes, many of them full cash offers from people who sold a more expensive home and are downsizing. These cash-buyers are beating out first time homeowners who have mortgages. Pieteck says he has heard of buyers who just stop looking out of frustration.See omnystudio.com/listener for privacy information.