The red line is the one to watch. This represents the unit sales in both Oneida and Vilas Counties. It has not shown a significant increase yet in 2009. In fact, after a disappointing 2008, the 2009 numbers show fewer unit sales than 2008. Not the best of news for Sellers. I still remain optimistic for unit sales to be in the 150 to 200 unit range in August and September, much healthier than 2008.
Some good news here is that the number of listings is below last year. Our inventory is still high relative to the numbers of active buyers. The one concern that I have is the number of buyers in the higher priced properties has not risen much. At present, there are 1492 lakefront properties in the Northwoods' MLS and only 43 have accepted offers. That is only 2.8%, a very low number.
The volume of showings have increased dramatically in the past 4 weeks. Low interest rates, a good inventory and motivated sellers; it's a very good time to be a Buyer!
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