Minocqua, Eagle River Area Home Sales June 2013

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June 2013 was a bit down from June 2012.  97 units were sold in 2013 and this compares with 110 units sold in 2012.  107 units were sold in May 2013 so we were down 9.3% from last month and down 11.8% from June of 2012.  The lowest priced cabin was $7000 and the highest priced home was $800,000.  Only two homes sold for more than $700,000 and only 7 homes sold for more than $400,000.  We are still not seeing a lot of action above the $400,000 threshold.

 Why the drop?  The best opinion I have is that we had a cold and wet and snowy April and May.  Showings were off from a year ago and June sales seem to show that.  If numbers were way down I would be more concerned. 

 What concerns me more is actions and words by the Fed that sent Wall Street over the edge and the bond market closely followed.  This has driven up the record low interest rates from hovering around 3.5% to 4.5%. The 4.5% interest rate is still terrific, but this jump of 28% in less than two weeks is disruptive to housing and it does take buyers out of the market.

 The weather is glorious with each day surpassing the magnificence of the day before!  Highs in the upper 70’s with low humidity.  It is hard to beat a summer in northern Wisconsin! 

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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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