Market Statistics for Vilas and Oneida Counties in Northern WI as of 10-7-2011

Julie Paez - REALTOR -  Coldwell Banker Mulleady REALTORS, October 7, 2011 Market Statistic for Vilas and Oneida Counties in Northern Wisconsin

In a repeat performance to last month’s sales figures; it isn’t terrific but it is a nice trend.  The red line represents the number of homes sold by month in Vilas and Oneida Counties.  In September, there were 90 homes sold in Oneida and Vilas Counties.  In 2010, 93 homes sold and in September of 2009, 78 homes sold.  In August, there were 96 homes sold.  That compares with 94 homes sold in 2010 and 84 homes sold in 2009.  These numbers are not super but the red line is becoming a bit more consistent and I believe we are on track to have a better October than last year.

Another trend we are seeing is the reduced number of listings.  In 2007 and 2008, there really was a lot of inventory.  We sold a lot of homes but the rate at which we sell homes (called the saturation rate) was quite poor.  We still are far from healthy but we appear to be heading in the right direction and Seller’s that really have no motivation to sell are slowly not returning their homes to the market.

What can one do as a Seller in a market so heavily favoring the Buyer? 

• The most obvious is to reduce the asking price.  I know how painful that can be and it is not always the best solution.  I am always telling you that “it’s a price war and a beauty contest and you have to win both”. 
• If you are already priced competitively (I would suggest actually visiting competitive listings) or allowing me to set up a manual search for you so you can actively see your competition and what they are doing with pricing daily. You will get listings like a Buyer does and this really keeps you up to date with the current market. 
• Next, you can consider how you look to the Buyer… or staging.  Staging is something that is commonly done in more urban markets.  It is not very common here at this time but there are people who can help.  Stagers can make suggestions from paint and decorating tips all the way to bringing in pieces of furniture to present your home in the best possible light.  I have taken several staging classes and am always ready to provide additional homework for my SellersJ

Mother Nature has blessed us again with spectacular color.  The fall season never disappoints here in the Northwood’s!  Come up and enjoy th colors in the beautiful northern Wisconsin counties of Vilas and Oneida!