Saturday, October 20, 2018

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State sets home sales record in 2017

Eau Claire County sales were up 5.8 percent

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Wisconsin set a new record in 2017 for home sales, despite a decline in December’s activity.

The state finished last year with just over 83,000 homes sold, a 1.4 percent increase on 2016’s sales, according to data released Monday by the Wisconsin Realtors Association. Last month’s home sales were 3.3 percent lower than they were in December 2016, but that didn’t stop the year from setting a new record.

Some area counties contributed toward making 2017 the state’s third consecutive record-setting year.

In Eau Claire County, 1,488 homes were sold last year — 81 more than 2016 — a 5.8 percent increase.

Chippewa County saw an 8.9 percent rise, ending the year with 865 homes sold — 71 more than 2016.

Dunn County, however, experienced a 7.2 percent sales drop — selling 52 homes less than the 723 it had in 2016.

Median home prices in all three of those counties rose, as they did throughout much of the state as high demand was met by tight inventories.

Statewide, the median home sold for $174,000 last year, up 5.5 percent from 2016.

Although more homes sold last year, fewer went on the market than they did in 2016.

“We had a very good year for sales, but we would have sold a lot more homes had there been more homes on the market,” WRA president and CEO Michael Theo said in a news release.

New listings were down 2.1 percent throughout 2017. The inventory of homes for sale last month was almost 22 percent lower than December 2016.

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