It seems like the real estate market is in a pivotal state right now. In the Dells area we had a very active December, a slow January and we have seen some pick up in the market in February. Year to date 18 properties sold in this area compared to 14 sales last year. There are 14 accepted offers in process indicating that March sales should be above last year’s number. These numbers show year to year growth, but at a snails pace. What is most concerning are the 700 properties currently on the market for sale. At the current rate of sales it would take many years for all of these properties to sell, just too much inventory. The breakdown of the listed properties is 200 single family (many are mfg homes which are tough to sell) 150 condo’s and 330 lots/acreage properties. For buyers these are great numbers. Combine the high inventory with low mortgage interest rates and the income tax credits being offered, this is a great time to buy. For existing home owners who plan to upgrade their primary residence, this is also a great time to buy. Expect to sell your existing home for less, but you will also be buying your larger home for less. The numbers work out in your favor and you may also be eligible for the $6,500 income tax credit if you have lived in your existing home 5 out of the past 8 years. For sellers, it is time to be serious about selling. Don’t put your property on the market unless you want to sell. Be prepared to sell for less than you think your property is worth. In this market, to list your property for sale over market value means it will just sit there and clog up the unsold inventory. |
Wisconsin Dells Area Real Estate Report
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| 2009 Wisconsin Dells Area Real Estate Statistics as of December 31, 2009 | | | | | | | | | | | | | | | | Avg. Sell | % Change | | # | % Change | | Avg DOM | | Avg. List | Currently | Avg DOM | | | Price | to 2008 | | sold | to 2008 | | Sold | | Price | listed | Listed | | Single Family Custom Built | $144,963 | -3.86% | | 102 | 7.84% | | 133 | | $220,008 | 157 | 223 | | | | | | | | | | | | | | | Condominium | $201,660 | 16.89% | | 33 | -24.24% | | 133 | | $239,464 | 151 | 321 | | | | | | | | | | | | | | | Land and Lots | $57,895 | -66.93% | | 32 | -50.00% | | 149 | | $177,904 | 318 | 349 | | | | | | | | | | | | | | | Single Family Manufactured Home | $66,386 | -38.20% | | 22 | 13.64% | | 126 | | $99,685 | 36 | 277 |
The data for these tables was captured from the South Central Wisconsin Multiple Listing Service and includes several areas that make up the Wisconsin Dells and Lake Delton vicinity. |
2009 Wisconsin Dells Market Report by Area
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| 2009 Market Report for Wisconsin Dells Area | | | | Single Family | Land | Condo | | Location | | Sold | Avg. Price | DOM | Sold | Avg Price | DOM | Sold | Avg. Price | DOM | | Wisc Dells, Adams | A20 | 0 | | | 0 | | | 2 | 210,500 | 35 | | Wisc Dells, Columbia | B33 | 19 | 104,294 | 142 | 0 | | | 7 | 244,142 | 111 | | Wisc Dells, Sauk | Q37 | 0 | | | 0 | | | 1 | 330,000 | 116 | | Newport | B21 | 7 | 156,700 | 142 | 1 | 65,000 | 92 | 0 | | | | New Haven | A13 | 3 | 195,666 | 64 | 0 | | | 0 | | | | Dell Prairie | A05 | 17 | 135,670 | 134 | 4 | 78,750 | 107 | 2 | 189,000 | 20 | | Springville | A18 | 19 | 82,694 | 106 | 7 | 53,114 | 85 | 8 | 90,437 | 174 | | Easton | A06 | 10 | 107,080 | 93 | 6 | 25,116 | 264 | 0 | | | | Lyndon | L14 | 11 | 145,488 | 110 | 1 | 48,000 | 193 | 0 | | | | Lyndon Station | L15 | 5 | 57,274 | 74 | 0 | | | 0 | | | | Kildare | L09 | 3 | 69,133 | 241 | 5 | 67,330 | 308 | 0 | | | | Lake Delton | Q14 | 16 | 130,154 | 147 | 6 | 75,833 | 130 | 18 | 205,586 | 153 | | Dellona | Q04 | 13 | 170,184 | 150 | 3 | 40,600 | 150 | 0 | | | | Delton | Q05 | 14 | 184,329 | 126 | 6 | 36,316 | 123 | 0 | | |
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Total Dells Area Properties Sold by Month
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| | 2010 | 2009 | 2008 | 2007 | | January | 5 | 8 | 14 | 20 | | February | 13 | 6 | 19 | 27 | | March | | 11 | 19 | 26 | | 1st Quarter | | 25 | 52 | 73 | | April | | 13 | 21 | 25 | | May | | 20 | 23 | 32 | | June | | 24 | 13 | 21 | | 2nd Quarter | | 57 | 57 | 78 | | Half Year | | 82 | 109 | 151 | | July | | 28 | 14 | 28 | | August | | 17 | 21 | 34 | | September | | 21 | 11 | 39 | | 3rd Quarter | | 66 | 46 | 101 | | October | | 22 | 17 | 21 | | November | | 19 | 13 | 31 | | December | | 21 | 13 | 13 | | 4th Quarter | | 62 | 43 | 65 | | YTD | | 210 | 198 | 317 |
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Consumer Confidence Index
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The consumer confidence indicator can be used to measure how comfortable consumers feel about spending. The market for real estate properties such as vacation homes is directly affected by how comfortable the consumer is feeling. After 11 months of confidence growth the index dropped over 10 points in February. This coincides with a drop in consumer spending and housing sales during the month of January. |
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