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Northwoods Leads The Way In Percentage Of Home Sales


The term 'record-setting' applies to Wisconsin's housing sales, according to a realtors association.

Wisconsin's housing market ended a record-setting year and the Northwoods led the way in terms of growth of sales. The Wisconsin Realtors Association numbers are detailed by economist David Clark.

He says for the first time they past 80,000 home sales in the year....

"....What's really remarkable about that is that the inventory levels have been shrinking...and we're still getting solid sales figures...."

December home sales were 4.1 percent higher than the previous December. and median home prices rose to $161,000.

Clark says the most robust sales area in Wisconsin last year is the 18-county Northwoods segment...

"....if you look at the northern part of the state, while the statewide average was 6.1 percent they were up 7.8 percent in the northern part of the state. That was the strongest growth in any region of the state....."

Prices in the region also were up 6.8 percent. The Northwood median price is $141,000. The average median price in Vilas county is well above the northern norm at $190,000.

Clark says interest rates remain low, and more people are working, meaning more buyers in the market. He says right now inventories are around 4 months in the urban areas, and 8 months in the rural areas. He says the market is considered 'balanced', when there is about six months of inventories for buyers and sellers. He says buyers continue to coming to the market even though inventories are tightening.

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