This is our first look at average home prices for the year. I have included sales for the past 12 months in this chart. Sales volume for the first quarter was up 14%. Please realize that the sales volume in the cold weather months is quite low and is statistically insignificant. However, we can still peak at it!
I have broken down the chart above into 4 groups. Oneida County on and off water sales and Vilas County on and off water sales. The on and off water sales are quite different from the on water sales. Most of the “locals” are off water while most of the on water sales are sold as second homes. Those are very different buying groups. Sometimes the off water sales are quite brisk while the on water sales are not. As you have heard from me many times, 70% of the waterfront homes are sold between July 1 and October 15. Off water values have stabilized. On water homes are finally picking up after years of little or no growth. I would expect the on-water homes to grow at a rate close to 5% overall in 2018.