Metropolitan Statistical Area (MSA):
Eau Claire, WI is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing the real estate market in the Eau Claire, WI metropolitan statistical area (MSA). The following is a brief overview of some of the most important trends affecting the market.
The population in the MSA is growing, which is good news for the real estate market. The number of people moving to the area has been increasing steadily for several years, and this trend is expected to continue. This population growth is driven by a number of factors, including the strong economy and job market in the MSA. The unemployment rate in the MSA is below 3%, which is significantly lower than the national average. This strong job market is attracting people from all over the country to move to Eau Claire.
The housing market in Eau Claire has been very strong in recent years. Home prices have been rising steadily, and there is a lot of demand for housing. The inventory of homes for sale has been tight, and this has caused prices to increase even more. The average home price in Eau Claire was $215,000 in 2017, which was an 8% increase from 2016. This trend is expected to continue as more people move to the area and compete for limited housing options.
Investors have also been active in Eau Claire's real estate market. There are a number of new construction projects underway that are aimed at meeting the growing demand for housing. These projects will help to alleviate some of the pressure on prices, but they are not expected to have a major impact on prices overall.