/ Posts / 2021 Market Recap

2021 Market Recap

Happy New Year Northwoods Neighbors and Friends! 

Wow, what a year it has been for real estate. Just when we thought it couldn’t get any crazier, 2021 came and showed us a real estate market unlike anything we had seen before. It came with great successes, many defeats, several lessons learned and a bit of insight into what 2022 might have to offer. Spoiler alert! We believe 2022 will be just as intense!

At the beginning of 2021, inventory was already low. The first two quarters of 2021 showed skyrocketing numbers of closed property sales, but very low numbers for new listings throughout the year significantly shifted the data by the end of the year. We ended 2021 with 1,657 closed single family homes* (-10.19% YTD) and 1,052 vacant land sales (+44.31%) in Oneida and Vilas counties. While vacant lot sales stayed in the positive YTD, it is important to remember that those numbers were almost +300% at the end of the first quarter and +150% at the end of the second quarter, showing the effects of a slow listing year.

On January 1, 2022, there were 477 single family homes for sale (-39.88%YTD) and 624 vacant lots for sale (-30.47%) between Oneida and Vilas counties. The only category where we saw an increase of new listings in 2021 was off-water vacant land at +8% YTD. Not surprisingly, available waterfront properties are lower than we have seen in years, with single family home inventory down 30.08% YTD and vacant land down 52.63%YTD. WE NEED INVENTORY!!

There are still a ton of eager buyers looking for their Northwoods slice of heaven, but our prediction is that it is going to take a while for inventory to catch up to this competitive buyer activity. It could be a very wild year for property hunting! 

We wish everyone a bright and happy 2022 filled with lots of lake time! Cheers! 

See More Posts

Local Business Spotlight: Mary's Kate's Wine Bar

Mary Kate's Wine Bar in Downtown Eagle River Receives Wine Spectator Award of Excellence



Navigating Land Purchases solely for Camping with an RV/Camper in Oneida and Vilas Counties, Wisconsin


Market Update July 2022

July 2022 Real Estate Market Update for Vilas and Oneida Counties, Wisconsin


Northwoods Fun Fact- Chris Farley

Chris Farley at Red Arrow Camp in Arbor Vitae, Wisconsin


Northwoods Real Estate Market Update- April 2022

Northern Wisconsin-Vilas and Oneida Counties Real Estate Market Update, April 2022


Pawesome Northwoods Pup Of the Month-STITCH

We love dogs in Northern Wisconsin! Meet Stitch- Our featured Northwoods Pup of the Month!


Our Favorite Northwoods Winter Events

It is never too cold in Northern Wisconsin to get outside. Bundle up and enjoy some of our favorite winter events and activities!


Eagle River Just Got A lot Cooler!

Eagle River, Wisconsin Ice Castle- A Community Tradition Since 1933


Vilas County Winter Adventure

Winman Trails- Snowshoeing, Cross Country Skiing and Fat Tire Biking in Winchester, Wisconsin


Christmas in Minocqua, Wisconsin

Merry Christmas from the happiest place on earth, Northern Wisconsin!


UNSOLVED MYSTERY- Timber Ridge Country Club

Timber Ridge Country Club Snack Shack Crime


How’s the Market? Q3 of 2021

Data from the Greater Northwoods MLS for the third quarter of 2021.


What's Up Dock?

Navigating Wisconsin Pier Laws for Installing a NEW Pier Without a DNR Permit


Beef-a-Rama 2021 Fundraiser- Little Warrior Foundation

Reid Team Realty raises money at Beef-a-rama for the Little Warriour Foundation in honor of Childhood Cancer Awareness Month


Northwoods Deer Gets Jack-o-Lantern Stuck on Head

Arbor Vitae, Wisconsin-Northwoods Deer Gets Jack-o-Lantern Stuck on Head


Paul Bunyan's Cook Shanty Closes

Paul Bunyan's Cook Shanty, a staple in the Northwoods for over 60 years, closes it doors for the summer season due to lack of employees.


Iconic Minocqua, WI Fishing Pier Loses a Limb

Town of Minocqua, Wisconsin shortens popular fishing pier on Lake Minocqua due to safety concerns.


Slow Down Speed Demons!

Minocqua, Wisconsin- Minocqua Chain of Lakes Thoroughfare designation change to be all "Slow No Wake"


See All Posts

When you're ready, we're here!

Contact us »

Reid Team Realty
Copyright © 2022
Powered by Sitecast