Some mixed results in the April end of month report. 80 homes were sold in April. This exactly the same number as were sold in March. It is also precisely the same number that was sold in April of 2015. So, we are flat with last month and flat with last year. I have never seen that and I find it odd.
The one number that is significant here is the number of homes listed. We normally are laser focused on the red line. This month the blue line offers some interesting news. The blue line is much lower than it has been. Last year, April saw 430 listings come on the market. April of 2016 saw only 347 listings taken, a drop of 83 units or 19.3%. We will see what happens in May but the shortage of inventory that we have heard of elsewhere in the country may be coming to the Northwoods. This shortage may result in higher home values. We are already seeing spot shortages of higher end off-water homes and lake homes in the $300K to $450K price range.
The weather is now warming up. The buds on the trees are coming out and the Northwoods’ is in full spring mode. The fishing opener may be one of the more productive as the surface lake temperatures are hovering in the mid 50’s. Please come up and enjoy!