Julie Sells Dreams in Wisconsin's beautiful Northwood's: Year End Statistics for the Northern WI counties of Oneida and Vilas!

Northern Wisconsin real estate information for Buyers and Sellers looking to make their dreams come true!!

Year End Statistics for the Northern WI counties of Oneida and Vilas!


Year End Statistics for the Northern WI counties of Oneida and Vilas!

Vilas County Data

   

             Off Water

         On Water

   

Sell/List

Sell/FMV

Sell/List

Sell/FMV

Arbor Vitae

0.93

0.82

0.87

0.73

Boulder Junction

0.9

0.85

0.87

0.82

Cloverland

0.91

0.73

0.89

1.01

Conover

 

0.89

0.54

0.92

0.95

Eagle River

0.9

0.75

   

Lac du Flambeau

0.89

0.93

0.89

0.83

Land O Lakes

0.9

0.75

0.9

0.81

Lincoln

 

0.91

0.89

0.93

0.93

Mani Waters

0.7

0.54

0.78

0.72

Phelps

 

0.88

1.07

0.91

0.94

Plum Lake

0.9

0.88

0.9

0.91

Presque Isle

0.93

0.58

0.88

0.82

St. Germain

0.92

0.8

0.91

0.82

Washington

0.86

0.7

0.89

0.63

Winchester

0.9

0.73

0.83

0.72

         

               Oneida County  *items no data available in MLS

 

   

             Off Water

         On Water

   

Sell/List

Sell/FMV

Sell/List

Sell/FMV

Cassian

 

0.91

0.58

0.91

0.84

Crescent

 

0.91

0.74

0.86

0.81

Enterprise

0.88

0.64

0.93

0.9

Hazelhurst

0.92

0.84

0.77

0.83

Lake Tomahawk

0.95

0.72

0.88

0.86

Little Rice

*

*

0.92

0.83

Lynne

 

*

*

0.96

0.93

Minocqua

0.92

0.92

0.88

0.88

Monico

 

*

*

0.97

0.54

Newbold

 

0.93

0.85

0.91

1.03

Nokomis

 

0.94

0.78

0.92

0.86

Pelican

 

0.92

0.83

0.94

1.03

Piehl

 

*

*

*

*

PineLake

 

0.91

0.79

0.83

0.74

Rhinelander

0.93

0.84

0.91

1.11

Schoepke

0.81

0.58

0.89

1.05

Stella

 

0.94

0.84

0.91

0.63

Sugar Camp

0.92

0.78

0.95

0.96

Three Lakes

0.85

0.88

0.89

1.17

Woodboro

0.87

0.43

0.89

0.76

Woodruff

0.92

0.95

0.92

0.74

 

 

 

 

 

 

 

 

VILAS COUNTY:  The TOP table looks at Sell/List Price and the Sell/FMV in the Townships of Vilas County for both on-water and off water homes.  There were 395 homes and condo’s sold in Vilas County in 2011 ( this is up from 363 units in 2010).  When one looks at the table, it becomes apparent that there are some tremendous bargains and buyers are taking full advantage of their leverage. Only two township had an average sale price ABOVE FMV (Cloverland On Water and Phelps Off Water ) and in both of these cases there were significant improvements to the land that had not yet caught up with the assessor.. I would also note that the overall average Sell to FMV is roughly 82% for On Water and 82.5 % for Off Water. I would also point out the while Washington is really low with Sell  to FMV when I take out the one large sale on Catfish Lake that sold for roughly 55% of Tax based value that percentage jumps from about 63% to 78%. . Also of note Vilas counties average sale price was down about 3% from 2010’s average sales price.

 

 

ONEIDA COUNTY: The BOTTOM table looks at the Sell/List Price and the Sell/Fair Market Value in the townships of Oneida County for both on-water and off water homes.  There were 453 homes and condos sold in Oneida County in 2011 (this was down about 30 units from 2010) .  The table is quite similar to the Vilas County table.  It is apparent that there were some tremendous bargains out there. There are four cases where the property sold for above FMV (Newbold, Pelican, Rhinelander and Three Lakes on-water).  The lowest point on the table is Woodboro off water where properties sold at only 43% of their assessed value.  In fairness, Woodboro only had 5 homes sell off water and it appears that three of them were bank-owned sales.    I would also note that the overall average Sell to FMV is roughly 78% for On Water and 76% for Off Water. Also, I’d like to note that Oneida Counties average sales price was up about 3% over 2010.

 

There was a time not long ago when more than 75% of homes would sell above the assessors’ fair market value.  That trend has clearly reversed and the vast majority of homes in the county sell for 80% of their fair market value. 

 

What does this mean? In Wisconsin, property taxes are paid in arrears.  Property taxes are based upon the property value as of January 1. Why the huge variations from township to township?  If the town recently revalued, it should be a higher (more accurate) value.  If there were several bank owned sales in an individual segment, that will bring a town down.  Some towns had many sales and some did not.  Also, each township contracts with an independent assessor.  Assessments (revaluations) are not done annually.    For a seller, it is not good news.  If one looks at the assessed value, homes are selling for around 80% of this value.  Can I hear a collective “ouch”!?   For the buyer, it is great news as the there has never been a better time to be a buyer.  Interest rates remain at 4% and below and the selection is excellent!  Years from now, many will regret the opportunity that today’s market presents.


Year End Statistics for the Northern WI counties of Oneida and Vilas!

 

 

 

 

Thank you so much for your time and your business. and for LISTENING!

 Happy House Hunting!!!

 Julie  Winter-Paez Broker/Owner, CRS, GRI

ReMax Property Pro's, LLC

602 Michigan St. PO Box 1058

Eagle River WI 54521

 

Comment balloon 1 commentJulie Winter-Paez • March 08 2012 07:39PM

Comments

Not too long from now, we'll be closer to 2012 year end than 2011 year end.

Posted by Cameron Novak, Featured Corona Real Estate Agent Team (The Homefinding Center) over 6 years ago

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