Six-Month Sales Update - Vilas County, WI

For the first time in many months, it can finally be said that more homes sold last month in Vilas County, than for the same month in the previous year. The increase for June 2009 was slight (only +2%), but we'll take positive improvement any time. Perhaps we have seen the bottom after all.

The state transfer tax collected for the month was down -14%, which means that even though a few more homes were sold this year, the prices that the buyers have been willing to pay have been lower. Not necessarily an indication of a 14% drop in market value, but more a barometer of the PRICE RANGE of the homes that are moving.

Activity is getting stronger, but the buyers we're seeing are those looking for low-end priced properties, and this is pushing the transfer tax collection lower.

In the end, the lack of buyers in the mid-range price areas ($400K - $750K) will cause values to slip, as inventory in this segment remains robust.

Personally, my 2009 business is much better than last years. And, even though year-to-date sales in the county are off 25%, I'm seeing strong growth and much better buyer and showing activity. Let's hope it continues!

It's a PHENOMINAL time to buy property in Northern Wisconsin!