The poet T.S. Elliott once wrote “April is the cruelest month”. As I look out at blowing snow and see our lakes with more than two feet of ice, I am convinced that T.S. is right. He also spent some time here in a boat house here on Catfish Lake. I suspect that it is here where he was inspired to write those famous words.
While April is cruel, March was weak. Only 47 homes were sold in the month. This compares with 44 in March in 2010 and 50 in March of 2009. We seem to following closely the pattern from 2010.
Listings shot way up to 263 listings. After 5 months of weak listing activity, the market exploded with inventory. This is not the best news for sellers as our reduced supply was starting to align better with our reduced demand.
There must be some good news to offset the gloomy weather and slow real estate market. We can only point to anecdotal evidence but there are buyers out there looking. Internet activity is high and interest at the outdoor shows is excellent. We seem to sense optimism; something that has been missing in 2009 and 2010. Buyers are hearing stories of “steals” in Florida and Arizona and they are thinking that similar deals can be found elsewhere. So, we remain optimistic that 2011 will be improved over the past 2 years.
We are entering the mud season and as I like to share, “mud is the glue that binds winter to spring”. Warmer temps will bring mud but it will be short lived and then buyers will begin flocking back to the Northwoods.