Greetings from Hayward, WI!
Third quarter home sales and median prices slipped this past quarter as compared to the third quarter of 2007, this according to a recent report from the Wisconsin Realtors Assn.
Wisconsin existing home sales were off by 16.7% while median prices finished 5.3% lower at an average of $160,000. Nationally existing home sales were down 7.7% with some pockets of the U.S. starting to show some positive signs,
Sawyer County results showed that existing home sales for Q3 totaled 76 as compared to 101 sales for the same period in 2007. The median price sank to $170,000 as compared to $180,000 a year ago. Interestingly enough that median price of $170,000 for Q3 is exactly where we finished in 2007 in average median price. Like the nation and the State there are areas in Sawyer County that have fared better than others.
Is there any good news? Since 2001 housing has still appreciated 24.4%; owning your own home continues to be a good investment. Mortgage rates remain very favorable and banks are willing to loan money to qualified buyers. Inventories are high so buyers have much to choose from. According to William Malkansian, president of the Wisconsin Realtors Assn., modest downward price adjustments can actually be a healthy thing in a soft market. Buying in this market should result in solid appreciation over the long term.
But the really big news is that the sacred holiday has arrived, yes it is Deer Season in Wisconsin and it opens on Saturday. Have a great weekend and plan to make a trip to Hayward soon. Happy Thanksgiving and safe travels as well.
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
