Northwoods Still Has Ample Supply Of Homes For Sale

Nov 8, 2017

Credit pixabay.com

The Northwoods continues to have some of the best property deals in the state according to an economist from Wisconsin Realtors Association.

Economist David Clark says early fall sales volume, statewide, was slightly down from September of 2016. He says compared to a year ago, prices are up about 4.8 percent. He says for the year, sales are up about half a percentage point compared to 2016 and prices are up about 6 percent.

Clark says last year was a record year for state realtors...

"...to be in that neighborhood tells us we're selling plenty of houses. The real tight inventories that exist are putting upward pressure on prices...."

The number of available properties in urban areas has dwindled.....Clark says....to the point that fewer available properties are driving the prices upward. For the less populated northern 18 counties, sales are up about 6 percent for the first nine months of the year with prices about 5.5 percent more than the first nine months of 2016.

He says for statistical reporting, the Association breaks the state into 6 geographic regions...

"....the only two regions for the first nine months of the year that showed positive sales growth were the northern region and they were up 7.6 percent and the central region up 3.9 percent. Those happen to be the regions that are primarily rural...."

For example, the North region had nearly 11 months of available supply in September, with the Central region having nearly 7 months of supply. Officials say Baby Boomers are retiring at about 10,000 per day nationally, and often they move out of homes which would make for more available properties.