Northwoods Home Sales Continue Strong Trend

Dec 26, 2017

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Though interest rates continue to nudge up, home sales in the Northwoods and the rest of Wisconsin continue to grow.

Wisconsin Realtors Association economist David Clark says statewide, sales volume was above November, 2016. Prices have also been up above the rate of inflation, due to low inventory levels in urban areas...

"We seem to be ending the year on a strong note. We’re on track to having a record year.... "

Clark says though interest rates are nudging up, they still remain low compared to historic standards. The 30-year mortgage rates were at their all-time low point in November 2012, at 3.35 percent, and they have risen to only 3.92 percent in November 2017.

In the Northwoods, the trends followed the same pattern as the rest of the state, but with a twist...

"...sales of existing homes were up about 6.1 percent. Median prices were up about 5.8 percent, so the northern part of the state and the north central part of the state have going for them is they don't suffer from the same tight inventories that exist in the southeast....."

A median priced home in Vilas county is $190,000, $175,000 in Oneida, $153,000 in Forest, $112,000 in Lincoln and $90,000 in Langlade.