Eagle River, Minocqua Home Sales February 2014

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February has been quite cold.  In fact, it will go down as the coldest February in recorded history.  We in the Northwoods are not the only ones shivering as the cold weather is pretty much everywhere east of the Mississippi.

The cold weather has had an effect on home sales too as only 38 homes sold in February.  That is the lowest number in the last ten years and the lowest number I can find.   That is a 24% drop from January.  It is also a 56% drop from February.  January/February of this year is off 38% from the first two months of 2013.  Here is the mix:

14          Homes < $100K                             1         Home $300K to $400K

12          Homes $100K to $200K               1         Home > $400K

10          Home $200K to $300K

So we are off to a less than impressive start.  It is too early to get excited over a few soft months.  Nationally, existing homes are off 2% so what we are experiencing may seem extreme.  I believe that the weather is mostly to blame.  It will be interesting to see what happens in the market when the weather finally warms up.  It is my belief that the market will improve over 2013 and that home sales in the lower price ranges will strengthen.

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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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