Market Update - September 12

Still Strong Up North

Still Strong Up North

Market Update - September 12, 2021

In the last month, 76 lake homes have sold:
8   $1m+            
18  $600k - $1m    
29  $400k - $600k  
21  <$400k        

In the last month, 18 vacant lake lots have sold:
10  over $200,000
5  $150k - $200k
3  < $150k

Currently there are 95 lake homes and 23 vacant lake lots under contract

These sales numbers are up from last month as I had anticipated. Next month should be very similar, but I would expect a decline in sales volume heading into fall. This isn't because the market is slowing down any, rather the inventory feels like it's slowing down to more of a trickle. Serious buyers should stay diligent as the good properties are still going very quickly.

Today there are 94 active lake house listings on the market.
22 over $1m
27 $600k - $1m
20 $400k - $600k
25 < $400k

42 of the 94 active listings are on lakes with a clarity of 10' or more.

There are 76 active vacant lake lot listings (on lakes at least 100 acres in size) on the market:
38 over $200k
38 under $200k

35 of the 76 active listings are on lakes with a clarity of 10' or more.

I've heard rumblings about some markets slowing down, but I don't see that being the case here in the Northwoods. The buyers still seem to be outpacing the sellers and properties are selling quickly. For buyers that are anxious to find a property, it's important to stay on top of new listings and get your finances in order so that you are prepared to make a strong offer when the right opportunity presents itself.

Please Contact Me if you have any questions about how to give yourself an advantage in a competitive market.