What is happening in the Northern Wisconsin's counties of Vilas and Oneida serving the greater Eagle River, WI area? Well 6 months into this years market and here is where we are.
- We have seen growth not impressive growth but beggars can't be choosy! 98 homes were sold in Vilas and Oneida Counties in June. That is the best month since October 2009. In fact, when one looks at unit sales since November 2008, June's 98 units are the second most homes sold other than October 2009's 109 units, which is cause for some celebration!
- We` have put together 4 straight months of increases. We still have a long way to go. When one looks at the unit sales and then one takes a closer look at what is selling, it is clear that less expensive homes are selling. Homes priced above $500K are sluggish and although we did sell a home for $900K in June, the Greater Northwoods MLS still has not sold a home above $1M in 2010. Three large tracts have sold above the $1M mark this year and that is good news.
Will the premium priced home market warm up? Will the mid-term elections loosen up some of the money in the market? I am optimistic that the fiscal responsibility tone of the electorate will strengthen the bond market and boost the stock market and the real estate market.
What does this mean for you? Well, if you are looking to buy or sell real estate in the Northern Wisconsin counties of Vilas or Oneida in the greater Eagle River WI area it means diferent things to all. If you are a seller it means we have to be prepared in the above 400k market to expect buyers to want to negotiate and buy up. If you are a seller in the under 300k range you should see activity if you are priced right, but you have A LOT of competition. If you are a buyer it is a great time to look to buy up. There is a lot to choose from and you can choose homes in this market that may have been out of your reach 3 years ago. So, start looking and call with any questions! You can reach me on my cell 24/7 at 715-891-1236 and please feel free to pass this on to anyone else you know that may be in the market for Northern Wisconsin real estate!
Copyright©by Julie Paez, All Rights Reserved, What is happening in the Northern Wisconsin's counties of Vilas and Oneida serving the greater Eagle River, WI area?