December 2011 results for the Northern WI counties of Vilas and Oneida!

By
Real Estate Broker/Owner with Re/Max Property Pros LLC

December 2011 results for the Northern WI counties of Vilas and Oneida!



After a better than expected October and November, December was slightly disappointing.  Home sales dropped to 78 units in Vilas and Oneida Counties for the last month of the 2011 year.  That compares with 92 units in December of 2010.  However, we only sold 67 units in December of 2009.  I can offer little in the way of an explanation for the lackluster results as December sales represent the lowest volume since May’s volume of 74 units.  My thoughts are that it could be a reflection of the current economic environment BUT - again - if you look at the last quarter OVERALL we ended up in numbers and this, to me, is a far better indicator and shows a better reflection of the year overall. Sales units in my market segment are up!!


There is one very interesting point to be made.  I cannot recall a point where we had more homes being listed than sold.  In December, only 85 homes were listed.  We almost had more homes sell than were listed!  The chart above shows this and you can see where those lines almost overlap in December.... Sellers obviously do not have a great deal of confidence in the market.  I have first-hand experience with this as I have had to tell many sellers that I cannot sell their homes for what they believe to be a fair value.  The market appears to be working as the reduced number of sellers entering the market will reduce supply and in theory, will put upward pressure on prices.  Less Supply EQUALS greater demand!!!  I will watch this trend as we head into the New Year.  For more information or to watch my video blog check out my website www.EagleRiverHomeFinder.com.


We have good snow cover and plenty of ice.  The trails are marked and in good shape.  We hope that you have the opportunity to come up and see our winter wonderland!  Best wishes for the New Year!


Copyright©by Julie Paez, All Rights Reserved,  "Market statistics for December of 2011 in Vilas and Oneida Counties." 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Wisconsin Vilas County Eagle River
Tags:
realtor
eagle river real estate
vilas county real estate
oneida county real estate
market reports northern wi
julie paez

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,113,644
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Julie - Great, local real estate market report.  You've given both buyers and sellers a lot of good information to use.  Nicely done!

Jan 14, 2012 06:06 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
44,354

Julie Winter-Paez

Broker/Owner
Ask me a question
*
*
*
*
Spam prevention

Additional Information