2018 Year-to-Date Northwoods Market Report

2018 was a great year! The JWP Group closed 137 transaction sides, which means we were able to help 137 families, individuals, and business owners move on or move in to the Northwoods!

We’ve been busy serving our clients! Every day we set out to put you first and in 2018 that meant 912 showings, 14 agent previews, 88 home inspections, 38 appraisals, and 2600 cups of coffee!

Through our Give Where You Live Program, making a $100 donation following every closed sale, we were able to give over $13,000 to local charities chosen by our team. Through RE/MAX we also donated $25 for each transaction to Children’s Miracle Network, which locally benefits Marshfield Children’s Hospital.

Much of the Northwood’s real estate market felt improvements in number of sales, average sales prices, and days on market. According to statistics from the Greater Northwoods MLS, Oneida and Vilas Counties in particular saw growth in 2018 over the year before. In Oneida County, 2018 real estate sales excluding vacant land totaled 857, an increase from 803 transactions in 2017. The average sales price has increased 6.7%, from $203,674 in 2017 to $218,388 in 2018. In Vilas County, real estate sales excluding vacant land also saw an increase, from 611 sales in 2017 to 677 sales in 2018. The average price increased 19%, from $213,404 in 2017 up to $254,254 in 2018.

Vacant land sales in both counties also saw gains. The average price in Oneida County is up 18.4% and 33.5% in Vilas County.

On-water home owners can also be encouraged by these statistics. 2018 saw 409 sales in Oneida County compared to 381 sales the year before, with the average price increasing 8.3%, from $301,467 to $326,471. Vilas County on-water home sellers fared even better with an increase in the average sale from $289,086 in 2017 to $346,439 to the same point in 2018. This is a 19.8% increase in sales price.

We also tracked average sales prices and number of sales on area lake chains. The “best in show” for 2018 were the Sugar Camp Chain and the Three Lakes Chain of Lakes. Sugar Camp Chain had a 75% increase in the number of sales, and a 22% increase in sales prices. The average sales price on that chain was $296,458 in 2018. The Three Lakes Chain had 51 transactions in 2018, a 28% increase. The average sales price was $475,140, a 25.4% increase over 2017.

The market is ever-changing and we at the JWP Group are committed to staying on top of it for you. If you are at all considering selling – don’t wait until spring to list! We have buyers now who are looking and ready to buy. When you are ready to start looking for your Northwood’s property – we have two full time Buyer’s Agents on our team who know the market and specialize in matching buyers and properties.

If you would like to see our complete 2018 Market Report that we’ve compiled, have a real estate question, or are ready to jump in buying or selling, reach out to our team. We’re here and ready to help!