Minocqua Area, Eagle River Area Average Values

We have not looked at values since August.  Stability is the word.  We have seen little movement up or down on home values.  We are still selling homes at 2004 price levels.  In Oneida County, 178 homes have been sold on-water in 2012 and the average value was $312,044.  Ironically, the average value in 2011 was $312,827 with 151 homes sold.  Essentially, the average value remains unchanged.

In Vilas County 225 on-water homes were sold and the average value $320,971.  In 2011, there were 179 homes sold with an average value of $330,851.  So the volume is up but the average value is down.  Off water homes in both counties remains virtually unchanged.

Some markets in the US have seen increases in value.  Unfortunately, the evidence shows that home prices have not yet begun to turn the corner here in the Northwoods.

It still is an excellent time to be a buyer!

 

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About northwoodsdeals

Jim Mulleady is the Broker for Coldwell Banker Mulleady REALTORS located in Eagle River, WI. Jim has a BS in Industrial Technology from UW Stout and an MBA - Marketing from DePaul University. Jim has over 20 years of marketing and sales experience.
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