Wausau-area home prices fall 4.3% in October, with houses for sale in high demand
A typical Marathon County home listed for $295,000 in October, down 4.3% from the previous month's $308,400, an analysis of data from Realtor.com shows.
The median list home price in October was up about 13.5% from October 2021. Marathon County's median home was 2,030 square feet for a listed price of $130 per square foot.
The Marathon County market was busy, with a median 46 days on market. A month earlier, homes had a median 44 days on market. The market added 116 new home listings in October, compared with the 152 added in October 2021. The market ended the month with some 129 listings of homes for sale.
High interest rates are making mortgage payments more expensive. With prevailing mortgage rates and 20% down, the mortgage payment on Marathon County's median home would cost $1,583 per month, not including insurance, closing fees, homeowner association dues or other costs, according to a USA TODAY Network analysis. A month earlier, the median home mortgage would have cost $1,592. A year earlier, the median home mortgage would have cost $892.
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
What were Wausau-area home prices in October? Here's a county-by-county breakdown
Wood County's home prices fell 3.8%, to a median $219,900, from a month earlier. The typical house was on the market for 50 days, from 51 days a month earlier. The typical 1,887-square-foot house had a list price of $117 per square foot.
Portage County's home prices fell 6.5%, to a median $349,900, from a month earlier. The typical house was on the market for 43 days, from 40 days a month earlier. The typical 2,096-square-foot house had a list price of $145 per square foot.
Clark County's home prices fell 2.9%, to a median $198,950, from a month earlier. The typical house was on the market for 68 days, from 59 days a month earlier. The typical 1,750-square-foot house had a list price of $103 per square foot.
Lincoln County's home prices fell 21.5%, to a median $226,950, from a month earlier. The typical house was on the market for 65 days, from 64 days a month earlier. The typical 1,603-square-foot house had a list price of $152 per square foot.
Across metro Wausau, median home prices fell to $278,905, down 6.9% from a month earlier. The median home had 1,864 square feet, at a list price of $132 per square foot.
Across all of Wisconsin, median home prices were $349,900, similar to the previous month. The median Wisconsin home for sale had 1,808 square feet at list price of $186 per square foot.
Across the United States, median home prices were $425,000, down 0.5% from a month earlier. The median American home for sale had 1,876 square feet, listed at $218 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on Wausau Daily Herald: Wausau-area homes for sale drop to $295,000 median price
