Less Competition Means Opportunity for Madeline Island Home Sellers

Less Competition Means Opportunity for Madeline Island Home Sellers

The dramatic drop in property inventories on Madeline Island over the past eight months has created an opportunity for would-be sellers.  The declining inventory of available homes for sale translates into less competition for Island property owners hoping to sell.

The last eight months have produced eight dwelling sales on Madeline Island, in addition to two closed commercial property sales and two pending sales.  The resulting reduction in available homes for sale has not been limited to upper-bracket properties.  Four of the recent Madeline Island residential sales during this period closed at prices under three hundred thousand dollars.

Less competition should result in a reduction in long-term unsold inventory as well.  At least three of the residential properties sold over the past eight months had been on the market for over one year. 

This window of opportunity is temporary, of course.  When the next wave of sellers comes to the market, resulting inventories of homes for sale could dwarf the figures we saw in 2013.

The above real estate market report is presented by Madeline Island Realty, 809 Main Street, LaPointe, Wisconsin.  Contact us at MadelineIsland@Gmail.com or phone Broker Eric Kodner at 612.670.2539 for more information on Madeline Island and Bayfield, Wisconsin homes for sale.