October sales figures are in and the upward trend continues. The red line represents home sales and the blue line represents home listings. We are looking at all homes and condos in Oneida and Vilas Counties (Wisconsin’s Beautiful Northwoods). As you can tell, home sales are cyclical with more sales in the warmer months. The red line (demand) continues to inch up and the blue line (supply) continues to drop ever so slightly. This has driven prices up in some segments of the market but not all. Lake homes on the chains have been hot sellers. Higher priced homes off of the chains have been tougher ones to sell.
Some specifics to the numbers. 148 homes were sold in October and that is a drop of 4.5% from September. We sold 149 homes in October of 2016 so we are slightly down .6%. One home sold for over $1M and only 12 homes sold for over $600K so demand for premium lake homes is still soft. We have sold 1119 homes thus far in 2016 and this compares with 1031 in 2015 (up 8.5%).
Most of the leaves are down now but we are enjoying a nice “Indian Summer”.