Not a lot of change from previous months. 85 homes were sold in the month of October in Oneida and Vilas Counties. This compares with 90 units in September and 96 in August. When we look at 2010, we sold 94, 93 and 85 homes in August, September and October. In August, September and October 2009, there were 84, 78 and 109 units sold. So, we are flat with 2010 and a bit up from 2009. The supply of homes remains very good but is a bit reduced from 2009 and 2010. We appear to be steadier than we have been in previous years. A couple of higher priced homes did sell but at steep discounts.
We are now heading into our seasonal downturn. It is not unusual for real estate to slow down around the holidays. In the Northwoods, we slow down a bit earlier as the northern half of the state seems to shut down for the uniquely Wisconsin ritual, the deer hunt.
What do we anticipate in the next 6 months? I anticipate slightly improved volume numbers. When one looks at the trend lines from the past 3 years, one sees about 50-60 units sold in January-March and then slight increases from then on. Another 5% increase may occur as mortgage money remains cheap (4%) and there are some real attractive buys out there! Buyers are out there but they are bargain shopping.
The leaves are down, the lakes are getting cold, the north wind is blowing off of Lake Superior and we have already had snow. The Northwoods will soon be a winter wonderland again!