This first bi-annual Gordon WI market activity update shows how our local market is doing compared to Douglas County WI overall. Data pulled from NWWI MLS shows single family homes in the town of Gordon, waterfront and nonwaterfront, that sold in 2010 vs 2009.
| Sold | # sold | High price | Low price | Avg Price | Median Price | Avg DOM |
| Gordon 2010 | 17 | $910,000 | 33,000 | $135,276 | $78,000 | 195 |
| Gordon 2009 | 7 | $174,900 | 77,500 | 124,342 | 132 500 | 265 |
| Douglas Co 2010 | 59 | 910,000 | 33,000 | 152,267 | 112,000 | 202 |
| Douglas Co 2009 | 57 | 2,750,000 | 15,150 | 190,912 | 129,000 | 207 |
As you can see from the table above, there is a wide gap between the low and high priced sold homes. To put a little more perspective on these numbers, of the 17 homes that sold in Gordon last year 15 sold for less than $200,000 making Gordon an affordable community to buy a home. In Douglas County 48 of the 57 homes sold for less than $200,000. The average 195 days on the market in Gordon is a little better than the county average of 202 last year.
Interest rates are another important factor that affects both buyers and sellers. A .25% rate increase on a $200,000 mortgage at 5% for a 30-year conventional loan with 20% down increases the buyer’s monthly payment from $1073.64 to an additional $30.76 and the down payment increases by $5571. If interest rates rise that could affect the price buyers are willing to pay.
There are currently 16 homes on the market in Gordon with list prices ranging from $49,000 to $598,500; 14 homes are listed under $300,000. In Douglas County there are 83 homes with list prices ranging from $39,900 to $1,175,000. Of the 83, 63 are listed under $300,000. For buyers, Gordon and surrounding communities offer a very good variety of affordable homes. The current 5% rate is still at an historic low.
It’s an exceptional time to buy.
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