Record-setting sales levels propelled realtors to one of the best winters ever.
The Wisconsin Realtors Association reports from December 2017 through February, 2018 saw more than 13,000 homes sold, which is the highest winter season since 2005.
The Northwoods followed the trend. Economist David Clark says February housing statistics were also in record territory, with sales and prices hitting new peaks.
February home sales rose 5.8 percent relative to a year ago , and median prices rose 7.4 percent to $166,000. Clark says a key point is the sales continued to grow while the number of homes available to sell continue to shrink...
"...if you took all the homes, statewide, that were available to be sold and you looked at the average monthly pace of sales, that persist over the last 12 months, it would take only about 3 months to liquidate that inventory. A healthy market is around six months..."
While unemployment is at historic lows in Wisconsin, interest rates are creeping up. In rural counties and the Northwoods, the inventory is close to six months. In this area, the median price is up eight percent to $140,000 sales volume rose in February 4 percent, during a traditionally slow time.
