Greetings!
I'd like to share with you some local numbers and thoughts compiled by Chris McGrath, a broker in our office. The time period is January 1 - May 15 of this year for all waterfront properties in Sawyer County:
2008: 39 sold, $234,667 average price, average selling price of 92% of list, average days on market (DOM) of 186 days
2009: 18 sold, $230,133 avg. price, 89% avg. sale price/list, 321 DOM
2010: 38 sold, $233,998 avg. price, 91% avg. sale price/list, 292 DOM
Please notice that there has been a very small change in average price over the 3 year period. With how dismal last year was, one would have thought the average price would have been much lower. Our market has shown stability in price while at the same time, large variations in # of properties sold (18 in 2009, 38 so far this year, more than double the volume). The current market has made a nice comeback relative to last year and we are seeing that trend continuing as long as the economy continues its slow recovery.
Here are some national statistics:
- Housing unit sales up 23.1 percent while prices continue recent strength with an increase of 7.3 percent over April of 2009
The increase in housing sales is the seventh month in a row where housing sales for the present month were above the same month from the prior year. And price increases just hit their fifth month in a row on the same basis.
- The PMI Mortgage Insurance Co.’s second quarter U.S. Market Risk Index (using 4th quarter 2009 data) showed evidence of a recovering national housing market and the prospect of higher housing prices in many markets within two years. Of the nation's 384 MSAs, 356 had a declining Risk Score, with only one showing a slight increase and the remainder unchanged. The number of MSAs in the riskiest category fell by 26.4% during the fourth quarter, while those in the least risky increased by 79%.
- Foreclosure filings were reported on 333,837 properties in April, a 9 percent decrease from the previous month and a 2 percent decrease from April 2009, according to RealtyTrac’s U.S. Foreclosure Market Report™ for April 2010.
We have made it through one of the toughest real estate markets in history and we continue to remain positive about the future. Certainly we are not cruising along as we were in the late 90’s and the early part of this decade but this year is much better than last.
Hope you have a great warm and safe weekend. Thanks to our Veterans, we live a life of freedom; one which I often take for granted. Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
