Vilas County Market Update / September 2009 Figures

From the Register of Deeds office at Eagle River, WI the statistics are in for September's real estate activity in Vilas County. Unfortunately, they show a continuing downturn compared to 2008.

If there is good news, it's that the percentage of "lag" is not double-digit, which we have seen in all but one month this year.

For September 2009, the number of Warranty Deeds issued was 93, compared with 99 last year.

The Transfer Tax collected was down 9% from last year, again showing that the property that IS selling is generally lower-end, and those that have sold have seen their market values slip. In fact, as reported in an earlier blog post, our residential values are at "turn back the clock to 2004" status.

Year-to-date, the number of sales in the county is off -16% from 2008, and values of properties sold is -27%, or a net of -11% for this year alone.

Current activity is spotty; we're getting a few inquiries, showing properties, but few buyers are grabbing the pen.

We've had three early snows so far this fall; more on the way tomorrow! Peace.