We are drying out! It has been a soggy start to summer but things are returning to beautiful! Everyone should come up to the Beautiful Northwoods!
Sales have been encouraging thus far in 2017. Sales have been a bit uneven though. Some markets are doing much better than others. On-water has been a bit stronger than off-water. The Minocqua, Eagle River and Three Lakes Chains have been red hot. The off-chain lakes have been more sluggish. The gap between on chain and off chain is increasing. There are some real bargains on some very high quality lakes
The chart above shows the sales by price range for the first 6 months of years 2015, 2016 and 2017. The lower number in the Under $100K is clearly the result of low inventory. There are some stronger numbers in the $300K and $400K ranges. The concerning number is the lack of strength in the $500K and up ranges. It is still soft in the higher ranges and there is an excess of supply.
Off-water homes are doing well in spots. New construction to $230K has been strong. Existing homes have not been strong in that range. We are seeing strength in the sub $200K range on better quality inventory.