Market Update as of January 31, 2010

Home Sales Rally in the Fourth Quarter of 2009!

We do appear to be turning the corner, after steady improvements throughout the year, 2009 existing home sales were back to their 2008 levels. (according to the Wisconsin's REALTORS Association) We are very hopeful that the additional tax stimulus will improve market conditions for 2010 and bring us closer to more "normal" levels.

So how are we doing in northwest Wisconsin?

Below is a snapshot of the market in the seven northern counties in Wisconsin for the month of January 2010 compared to January 2009.

Ashland/Bayfield

2010 Median Sold Price $176,000 Total Sold 2 Day on Market 76

2009 Median Sold Price $190,750 Total Sold 2 Days on Market 139

Changes - 8% decrease in Median Sold Price/0% change in Total Sold

Barron

2010 Median Sold Price $85,000 Total Sold 16 Days on Market 175

2009 Median Sold Price $70,000 Total Sold 22 Days on Market 141

Changes - 21% increase in Median Sold Price/27% decrease in Total Sold

Burnett

2010 Median Sold Price $140,000 Total Sold 5 Days on Market 52

2009 Median Sold Price $80,000 Total Sold 7 Days on Market 246

Changes - 75% increase in Median Sold Price/29% decrease in Total Sold

Rusk

2010 Median Sold Price $90,500 Total Sold 5 Days on Market 105

2009 Median Sold Price $38,000 Total Sold 5 Days on Market 182

Changes - 138% increase in Median Sold Price/0 % difference in Total Sold

Sawyer

2010 Median Sold Price $247,000 Total Sold 12 Days on Market 146

2009 Median Sold Price $173,013 Total Sold 10 Days on Market 210

Changes - 43% increase in Median Sold Price/20% increase in Total Sold

Washburn

2010 Median Sold Price $93,500 Total Sold 6 Days on Market 222

2009 Median Sold Price $90,000 Total Sold 6 Days on Market 83

Changes - 4% increase in Median Sold Price/0% change in Total Sold

**Information provided by NW WI MLS ins compiled from 3rd party sources. Sale price does not reflect seller concessions. Stats include single family, condo and manufactured homes and may not include all properties sold.

Vacation Rentals

If you are looking for an affordable vacation trying renting a vacation home versus staying in a hotel. Not only do you get more room (the average square feet in a hotel room is 300!) you can save money by eating in and taking advantage of amenities the home has to offer. It is just like owning the home without the worry! Check out this website for vacation homes in Hayward and Birchwood Wisconsin.
http://www.escape2ourcabins.com

Northern WI Real Estate

Search the Multiple Listing Service for real estate in northern Wisconsin.

http://marthadelong.com/

How's The Market?

Wisconsin Home Sales and Prices Fell in the first quarter of 2009.

For the northern part of Wisconsin the median home price fell from $102,200 in 2008 to $96,000 in 2009 representing a 6.1% decline. Existing home sales fell 24% in the first quarter compared to the first quarter of 2009, from 651 to 495. Some of this decline results from price discounting by sellers in this soft market and the reality that less expensive homes have been moving more briskly than upper end homes, thereby creating a lower median price.

Below is a snapshot of the market in 7 northern WI counties for the month of May 2009 compared to May 2008.

Ashland/Bayfield

2009 Median Sold Price $65,000 Total Sold 4 DOM 200

2008 Median Sold Price $159,000 Total Sold 10 DOM 172

Changes - 59% decrease in Median Sold Price

60% decrease in Total Sold

Barron

2009 Median Sold Price $107,750 Total Sold 36 DOM 159

2008 Median Sold Price $105,000 Total Sold 45 DOM 133

Changes - 3% increase in Median Sold Price

20% decrease in Total Sold

Burnett

2009 Median Sold Price $116,500 Total Sold 27 DOM 184

2008 Median Sold Price $155,000 Total Sold 31 DOM 195

Changes - 25% decrease in Median Sold Price

13% decrease in Total Sold

Rusk

2009 Median Sold Price $63,000 Total Sold 6 DOM 53

2008 Median Sold Price $52,400 Total Sold 8 DOM 85

Changes - 20% increase in Median Sold Price

25% decrease in Total Sold

Sawyer

2009 Median Sold Price $140,000 Total Sold 19 DOM 247

2008 Median Sold Price $200,000 Total Sold 23 DOM 176

Changes - 30% decrease in Median Sold

17% increase in Total Sold

Washburn

2009 Median Sold Price $124,000 Total Sold 21 DOM 112

2008 Median Sold Price $132,500 Total Sold 18 DOM 124

Changes - 6% decrease in Median Sold Price

17% increase in Total Sold

**Information provided by NW WI MLS is compiled from 3rd party sources. Sale price does not reflect seller concessions. Stats include single family, condo and manufactured homes and may not include all properties sold.