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Lake Country Lake Home Market Statistics 6-1-09

By
Real Estate Broker/Owner with The Real Estate Company, Lake & Country, Inc

Lake Home Market Statistics 1-06-09

Lake homes Sold the last 4 years

Active Lake Home Listings

Below are charts and graphs showing Lake Country lake home stats over the past couple of years. This 1st chart compares number of lake homes sold per year on the selected lakes.  The numbers show that last year there was a significant drop off on lake homes sold on each lake (besides Pine). Overall, there was a 54% decrease in the total number of lake homes sold on the five major Lake Country Lakes. It also shows that half way through 09, only 14 lake homes have closed this year.  JJ Hausmann and The Real Estate, Lake & Country, Inc will have sold 6 lake home properties and counting by 6-12-09 (around 40% of the total transactions).

Number of Homes Sold

       
 

2005

2006

2007

2008

1/09-6/09

Pewaukee Lake

29

26

29

17

5

Nagawicka

15

8

13

4

3

Okauchee

35

23

35

20

3

Lac La Belle

13

7

9

3

3

Pine

0

10

1

3

0

Total

92

74

87

47

14

 

The numbers below take a closer look at the average sale on each lake over the past couple of years. These numbers can get inflated very easy, with a couple of 2 million dollar sales.  It shows the average selling price has remained consistent, until this year. It represents less high end sales YTD.

 

 

Average Selling Price

       
           
 

2005

2006

2007

2008

1/09-6/09

Pewaukee Lake

$833,041

$924,546

$1,074,691

$868,007

$697,125

Nagawicka

$639,046

$1,230,588

$857,461

$780,550

$1,516,000

Okauchee

$726,043

$757,543

$868,809

$742,496

$582,900

Lac La Belle

$1,241,620

$1,479,750

$1,360,488

$1,187,667

$741,267

Pine

NA

$2,709,390

$2,550,000

$2,416,300

NA

Total Average

$859,938

$1,420,363

$1,342,290

$1,199,004

$884,323

 

Below the chart shows what sellers are accepting relative to their list price. The last two years show that sellers have been taking 2-4% less, relative to their list price. These numbers do not tell the whole truth, because several of these properties reduced their list price before getting their property sold. What it does indicate is that in order to get buyers to submit offers the list price has to be within 10% of the true market value of the property.   If the buyer feels the price is too high they will move onto the next property, as there is not a shortage of inventory currently on the market.

List/Sale Price

         
 

2005-2006

2006-2007

2007

2008

1/09-6/09

Pewaukee Lake

96%

94%

94%

89%

89%

Nagawicka

94%

95%

91%

95%

89%

Okauchee

96%

96%

97%

92%

95%

Lac La Belle

94%

93%

93%

89%

93%

Pine

NA

92%

77%

89%

NA