Northwoods Home Sales/Listed 2007 – 2019

 

Still not firing on all cylinders.  We ended 2018 with strong sales and value growth.  Thus far, 2019 has been a dud.  74 homes were sold in March 2019.  This compares with 86 in March of 2018 (down 14%) but up from 59 homes in February (up 25%).  Through the first 3 months of 2019, 199 homes have been sold.  This compares with 238 from the first quarter of 2018 (down 16%).

I think it is premature to get too excited.  We have had a record amount of snow this winter.  While the snow has really injected money into our local businesses, it has had a negative effect on the Northwoods real estate business.  I still believe that we will have a strong year.  Inventories are still good and interest rates are quite affordable at 4.375% for a 30 year fixed rate mortgage.  There are some excellent values particularly on off-chain lakes.

Winter is fading and spring temperatures are here.  We will be green before you know it!