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Oneida County Lake Place Market MAY 2017

Market Trends - Posted On 05/05/2017 06:33 PM, Last Updated 06/01/2017 05:19 PM
296 Active Listings on Market 45 Accepted offers (13.2% this is a good number. During recession this was tytpically 7 or 8%)341 TotalMedian List Price: $299,900 The middle of the road (haha) price for a lake home was $300KMedian Sold Price: $244900 (82%)At the current rate of sales we have a 10 month supply. This is very good for us in our market.351 Units Sold in Past Year29.25 Burn Rate (Units Sold per Month)10.1 Months InventoryBottom line of all this is the market is trending upward. Good news for sellers but with interest rates rising and sellers feeling good, the buyer's market in lake places may be coming to an end.

Oneida County 8-12 Acre Offwater Parcels

Market Trends - Posted On 04/12/2017 04:33 PM, Last Updated 04/12/2017 04:36 PM

When is a Lake Place a Cottage for Financing Purposes

Financing - Posted On 05/10/2016 10:48 AM
A 2nd home is the same rate as a primary home. A 2nd home becomes a cottage when its not suitable for year round occupancy. For example, it has to be winterized because of exposed plumbing or something like that. Typically a true 3 season home is not financeable at all, but here at RVB, we do look at doing them as in house deals as we realize they do have value and people do want to buy them. This response per LeAnn Hayden at River Valley State Bank 715-358-9319

Northwoods Unit Sales and Prices Still Heading North

Costs - Posted On 03/02/2016 04:34 PM
The following is year over year January sales for Vilas, Oneida, and Lincoln counties. Unit sales were up 29% and total sale volume was up 32%. The median sale price rose 2.2%. Similar to the trends from all of last year, the unit sales are soaring while the increase in sale price continues to hibernate awaiting Spring, our sellers hope. Thanx to the Re/Max Property Pro admins for these statistics.

Want to Tour a Home in The Woods Without Leaving Your Chair in Front of the Fireplace? Check This Out

Costs - Posted On 02/19/2016 03:32 PM, Last Updated 02/19/2016 03:37 PM You gotta love it. Well, OK maybe when it doesn't have me pulling my hair out. 

Waterfront Sales Are Improving and Here Are the Numbers to Support the Notion

Waterfront Sales - Posted On 02/17/2016 09:52 AM, Last Updated 02/17/2016 10:35 AM
Well, we talk about it a lot and how the market has partially recovered (unit sales up but prices below pre-recession median sale prices) and the latest absorption data supports the notion of good times ahead. Absorption rate is simply the number of months required to exhaust the current inventory (listings). Please note that the absorption rates have fallen in each of the price categories except over a million. Bottom line, inventory is moving faster. Buyers are here and sellers are receptive. After all, it takes two to tango. Enjoy the day.     Vilas & Oneida County20152016On-Water Homes $300,000 and UnderNumber Currently Listed 365325Absorption Rate: 18.6Months2015Number of Sales Last 12 Months236315Absorption Rate: 12.4Months2016On-Water Homes $300,001 to $500,000Number Currently Listed 227221Absorption Rate: 22.0Months2015Number of Sales Last 12 Months124159Absorption Rate: 16.7Months2016On-Water Homes $500,001 to $750,000Number Currently Listed 9174Absorption Rate: 24.8Months2015Number of Sales Last 12 Months4442Absorption Rate: 21.1Months2016On-Water Homes $750,001 to $1,000,000Number Currently Listed 5046Absorption Rate: 60.0Months2015Number of Sales Last 12 Months1017Absorption Rate: 32.5Months2016On-Water Homes $1,000,001 and UpNumber Currently Listed 2940Absorption Rate: 29.0Months2015Number of Sales Last 12 Months124Absorption Rate: 120.0Months2016Special thank you to Denise Goldsworthy and Bob Merz of RE/MAX Property Pros for supplying this data.    

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