Our northwest region of the state is primarily a vacation home market with a sprinkling of businesses and year-round residents. Our real estate market mimics the activity found in larger cities, with a delay; for instance, if the housing market catches fire in Minneapolis, we can expect a similar activity about two years later. The recent, nationwide housing crash affected all of us, but while the big cities saw their worst housing time during 2009, we didn’t experience ours until 2011.
Although property values are not near where they were pre-2011, our market is picking up steam and buyers are once again buying! I’ve had a very busy year and as of Fall 2017 I can almost say the market is turning the corner and heading towards a ‘seller’s market’. More and more I’m seeing multiple buyers write offers on choice properties – especially the mid-range lake homes.
The price that buyers are willing to pay is what drives the property pricing in this vacation area. If you’d like to see what other properties recently sold for-send me an email and I’ll send you recently-sold statistics and data so you can get a snapshot of the values in your property’s area.
If you are wondering what your property would sell for in today’s market – contact me for a free, no –obligation assessment of your property! I specialize in Sawyer and Washburn, but also work in Price, Bayfield, Douglas, Burnett and Barron counties.
Below are helpful links and other info on this subject. Stop back often as I plan to add more to this list as my website grows…. enjoy!