About Oneida County, WI

This chart shows the unit sales (homes) for Vilas and Oneida Counties for 2004-2009. The red line shows the number of homes sold and the blue line represents the number of homes listed. As displayed, December proved to not be significantly different from previous months in 2009. October was the highlight for the year in terms of unit sales and pricing.

What are we to expect in 2010? I don't think it would be much of a stretch for me to predict unit sales between 50 and 75 units for the first 4 months of 2010. We saw those sorts of numbers in 2008 and 2009. I remain optimistic that the warmer months will see sales in excess of 100 units during the summer. Why the optimism? This market has a tendency to parallel consumer confidence. Consumer confidence is much stronger than it was 12 months ago. We have good inventory, historically low interest rates, banks willing to lend money (unlike 12 months ago) and $6500-$8000 incentives. If someone was looking to move up, it really is an opportune time.

So we will see what 2010 brings. I wish you all the best for the New Year!

Sincerely,

Jim Mulleady - Broker

Coldwell Banker Mulleady REALTORS

jim@28lakes.com www.28lakes.com

The above chart shows year end home averages for Vilas and Oneida Counties for the years 2003 and 2009. It does not show volume however. I will show volume in the next newsletter. Volume has definitely increased in the last quarter of 2009.

There is some bad news along with the good news of the increased volume levels. We have seen increased activity in the foreclosure market and that did affect the overall average figures in 2009. With volume off 60% on-water from 2007, a deep discount on a home will have a bigger affect on the average figures and I think that is what we are seeing at year end here in 2009. Waterfront homes are selling at around the 2005 price level. Off water homes did not see the spike in values that on-water did and the price has not changed drastically from 2008 levels.

What does all this mean for the future? It all starts with consumer confidence and the Buyers seem to be coming back at this time. They are bargain shopping! Interest rates are still quite attractive, still hovering around 5%. Then there is the $6500 stimulus for all Buyers. I think 2010 will be a stronger year for Northwoods real estate.

Best wishes for the new year!

Some good news for a change! We reached over 100 units sold for the first time in 2009 and the most units since last October. 109 units sold in October vs. 122 last October. It's a start!

The above are home unit sales by month for the past 24 months. Some bad news is that 2009 unit sales have been below 2008 unit sales for the past 12 months. One month, April, almost surpassed the previous year 76 vs. 77 units. The largest gap was between December 2008 vs. December 2007 where 72 units were sold in 2008 vs. 179 units were sold in 2007.

One thing becomes quite clear on this chart is the beginning of the real estate slowdown. If you throw out February, March and April of 2008, the rest of the year was relatively strong. Those three months are historically slow periods in Northwoods real estate. October 2008 was the final strong month for Northwoods real estate with sales of 122 homes. Since that time, we have had only one month with sales above 80 units (August 2009 saw 84 units sold).

What will the future hold? The uptick in volume is certainly welcome news for sellers and REALTORS. The $8000 stimulus has helped in other parts of Wisconsin and the nation but it has not made a significant impact on Northwoods real estate. I remain optimistic that 2010 will surpass 2009 and that Octobers number, while not outstanding, are a step in the right direction. The one common element that the Buyers are looking for are "deals".

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