Chippewa Valley home sales on the rise - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Chippewa Valley home sales on the rise

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Eau Claire (WQOW) - If you're shopping for a new home, you're not alone. Research shows more homes are being sold in our area this year than there have been in quite some time.

"It's been since 2007 that we've seen numbers of this size," said Krag Blomberg, Realtors Association of Northwestern Wisconsin President.

It's safe to say home sales are soaring these days

"The numbers for the third quarter are fantastic. We're up 32% in unit sales in the Chippewa Valley, which is an extremely strong number," Blomberg said.

In Eau Claire County 105 homes were sold last month, 26% above the same time last year.

"Consumer confidence is strong, coupled with interest rates being low. I mean they have gone up a little bit, but they're still below four and a half percent which is just fantastic rates. Unemployment in the Chippewa Valley is low," explained Blomberg.

It's a trend that isn't confined to the Chippewa Valley. According to the Wisconsin Realtors Association, sales statewide are up 16% over September of 2012.

"Many of us can remember the days of double digit mortgage rates. So yeah, we're down below four and half percent interest on a thirty year note. That's just very, very strong," Blomberg added.

Realtors say the market is doing so well that many sellers are getting several offers on their homes.

"It's happened to many, many buyers this year, if they spend too much time trying to negotiate and thinking about buying a house, they lose the house," said Blomberg.

While temperatures here in the Chippewa Valley continue to drop down, realtors say they expect to see more for sale signs popping up as we head into the winter months.

"There's still buyers that need to or are transferring for jobs and what not that need to buy. Everything that I can see, low interest rates, low unemployment, it's showing us that we're going to continue forward with these sales," Blomberg said.

Eau Claire County isn't the only one in our area seeing strong sales. Chippewa County also had a strong September. And in Dunn County, there have already been more homes sold this year than all of last year combined. As for those unemployment figures, Eau Claire County was at 5.4% in august, the most recent numbers available.

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