Vilas and Oneida Counties Unit Sales August 2009

At least it is not going down! The blue line is new listings while the red line represents sold units. A definitive trend has evolved this summer and to REALTORS and sellers this will come as no surprise. The volume was down in the summer of 2008 to around 120 units per month (homes and condos). This summer, it's hovered around 75 per month, roughly a 35% drop. The summers of 2005 through 2007 saw averages in the 200 units per month area. So, we are moving approximately 37% of the homes that we were in previous summers.

The news is not all negative. The 84 units that sold in August were the most sold since October of 2008. As far as the year-to-date numbers, the entire MLS is roughly 33% down from 2008 but that is better than the -45% we were down earlier in 2009. We are digging ourselves out but at a sluggish pace.

Interestingly, the market below $200,000 and above $1M are the most active (or lease inactive if you prefer). The stimulus program is helping those in the lower market. There are some great values out there for those who have been waiting on the sidelines.