Chippewa County home prices rose 15.9% in February

In Chippewa County, the median home listing price rose to $254,950 in February. This is a significant increase of 15.9% from January's price of $219,900. Compared to February 2024, the price is up 2.2% from $249,500. The typical home listed in Chippewa County was about 1,560 square feet, priced at $175 per square foot. This price per square foot has increased by 11.2% since February 2024. Houses in Chippewa County sold more slowly, with a median listing period of 109 days. This is longer than the national average of 66 days. In January, homes were on the market for a median of 92 days. There were around 28 new listings in February, which is a 7.7% increase from the 26 new homes listed in February 2024. However, the reported prices mostly reflect single-family homes, condominiums, or townhomes, and do not include new constructions or pending sales. In the wider Michigan market, median home prices were reported at $265,350, while the median home size was 1,552 square feet. Nationally, the median home price increased slightly to $412,000, with homes averaging 1,791 square feet and priced at $227 per square foot. Experts note that median prices give a clearer picture of market trends than average prices, which can be affected by extreme values.