What to Watch For in the 2014 Madeline Island Real Estate Market

By
Real Estate Broker/Owner with Madeline Island Realty 50317-90
https://activerain.com/droplet/496W

What to Watch For in the 2014 Madeline Island Real Estate Market

 

As I wrote in a recent blog post, making forecasts about real estate market trends and future activity can be a risky business.  But after all, risk-taking is what real estate brokerage is all about. And the end of 2013 is a perfect time to review the past year and to make a few predictions about what 2014 may be like.

Below are a few encouraging signs which point to the likelihood of continued market growth in Madeline Island real estate sales activity in 2014:

  • Property showing traffic remained strong up to the close of 2013.  We had property showings on Madeline Island on December 18th and submitted a full-price offer for an Island property on December 20th.  We have not witnessed consistent and ongoing buyer activity on the Island this late in the year since 2006.
  • Web traffic has also remained brisk.  Listing views and virtual tour viewings on our website have shown surprisingly high numbers throughout November and December of this year.  We try to counsel our sellers that it's not a good idea to pull their listing off the market during winter months, and this would be a good year to follow that advice.  Buyers may not jump in the car and drive up to the Island during winter months to tour your home in person, but as long as they're repeatedly viewing your home online, you have their attention.
  • Buyer inquiries about Madeline Island homes and lots continue to be brisk.  Again, new inquiries by prospective buyers have remained steady throughout December.  We have also received multiple inquiries from potential sellers during the past week.
  • Madeline Island Realty closed over $1.2 Million in sales of waterfront dwellings on the Island between November 13th and December 12th, 2013.  This has been the busiest thirty-day sales period for Madeline Island Realty since April 5 2012, when we closed total sales in excess of $1.7 Million.

 

In addition to the above factors, we are encouraged by the recent pending sale of 219 Colonel Woods Avenue, LaPointe, Wisconsin. This commercially-zoned property located across the street from the Madeline Island Ferry Line pier is now scheduled to close in early 2014.  While this property has been a single-family dwelling for decades, we are told that the buyers plan to use the existing home for commercial purposes.  The sale reinforces what we have been telling customers and clients for years, that there appears to be a healthy demand for commercial property in our relatively small downtown LaPointe, Wisconsin business district.

 

 

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Topic:
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Location:
Wisconsin Ashland County La Pointe
Groups:
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WATERFRONT REAL ESTATE
Tags:
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Eric, OK!  I've got to check out Madeline Island.  It sounds utterly charming!

Dec 28, 2013 10:13 AM #1
Rainmaker
565,890
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Pat,

Madeline Island is often described as America's "North Coast" on the Great Lakes. The Island has been featured in the Wall Street Journal, New York Times, Chicago Tribune and other well-known publications. For many years, Madeline Island was an exclusive playground for families from Minneapolis, Chicago and Milwaukee, but as it has become better known, the place has drawn attention (and visitors) from all over the United States, mostly during late spring, summer and autumn.

Let me know when you plan to visit and we'll roll out the red carpet for you!

Dec 28, 2013 10:51 AM #2
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Congrats on the recent pending sale Eric, good to see things are looking good at the north edge of Wisconsin.

Mentioned you in a post on Bayfield county today, hopefully you will get a few clicks from it, and maybe even a sale.

Dec 30, 2013 04:23 PM #3
Rainmaker
565,890
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Thank you, Bob!

We're actually seeing multiple offers again on Madeline Island, and that's something we haven't seen in over five years.

Dec 30, 2013 10:49 PM #4
Rainmaker
820,770
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Eric, I really like how you point out the plusses for the Madeline Island real estate market.  One tends to think winter in WI means a down turn in real estate sales as people huddle inside.  But, serious buyers and sellers are not seasonal, as your blog supports.  Well done.  

Dec 30, 2013 11:33 PM #5
Rainmaker
565,890
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Thanks, Juli.

Right now, in the midst of winter, folks in the upper Midwest are already planning their summer vacations and eager prospective buyers are checking out listings of homes, cabins and cottages for sale. Our snowbirds might spend a month or two in Scottsdale or Boca Raton or San Diego during winter, but they spend their summers at a cabin on the lake!

Dec 31, 2013 12:09 AM #6
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Rainmaker
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Eric Kodner

CRS, Madeline Island Realty, LaPointe, WI 54850 -
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