Home sales in Wisconsin are expected to end this year slightly below 2017’s tally, but that won’t necessarily be the case for every county in the Chippewa Valley.
In Dunn County, there were 632 homes sold in the first 11 months of this year, more than 7 percent above the 587 sold by the end of November 2017.
Eau Claire County is tracking closely to last year’s sales, with 1,361 sold by the end of November — just five fewer than a year ago.
Chippewa County, however, has lagged more than 7 percent behind last year’s sales figures. By the end of last month, 714 homes were sold there compared with 771 during the same months in 2017.
Statewide, the 77,533 homes sold this year is 1.7 percent behind the 78,885 tallied by the end of November 2017.
“Unless we have a phenomenal December for home sales, it looks like we will come up a little short of last year’s sales totals,” Jean Stefaniak, chair of the Wisconsin Realtors Association board, said in a news release.
December, which usually accounts for 6.8 percent of a year’s home sales, would have to grow by 24 percent to close the sales gap between 2017 and the first 11 months of this year, according to the news release.
But Stefaniak said 2018 has still been an impressive year for sales figures given the scarcity of homes on the market. Home inventories have tightened in all parts of the state in the past year, which has contributed to the 6.7 percent increase in the median price of homes on the market.
The statewide median home price has been $184,000 for this year compared with $172,500 for January through November 2017.
Median home prices in the Chippewa Valley also rose but stayed below statewide figures. The median home price in Eau Claire County has been $178,500 so far this year, up from $170,000 in the first 11 months of 2017. Chippewa County’s median home stands at $172,000, up from $160,500 last year. For Dunn County the median home price is now at $167,800, up from $155,500 in 2017.