Sawyer County home sales rebounded back up to 2008 levels with 324 homes sold in 2012 as compared to 262 homes in 2011. The downside is that the median price fell to $154,750 as compared to $178,500 in 2011. The 2012 median price mirrors the values we experienced in 2009-2010.
Strong growth in home sales since the middle of 2011 seems to indicate that buyers perceive the value of investing in housing again and that the trend for home sales is moving in the right direction. Hopefully values will begin to increase as well even if at a modest pace. There appears to be some pent-up buyer demand yet so we may see more activity as buyers seek reasonable pricing in the midst of a pretty inflated local inventory. And let's not forget about those low mortgage interest rates.
Overall the Wisconsin housing market was up in 2012, with sales of existing homes growing substantially and median prices up modestly, according to the latest figures released by the Wisconsin REALTORS® Association (WRA). Sales of existing homes for 2012 were 20.7 percent above the levels of 2011, and the statewide median price increased 1.1 percent to $133,500 over that same period. Foreclosure activity in the state is also receding at a good pace. On average the home inventory level is declining across the state.
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