/ Posts / How’s the Market? Q3 of 2021

How’s the Market? Q3 of 2021

The kids have returned to school, leaves are falling, and the lingering smell from Beef-a-rama has faded as we close out a very interesting third quarter for Northwoods real estate. Normally this time of year locals can take a breathe, eat at their favorite restaurant without a reservation and be solo navigators on the much quieter lakes. Any local will attest to the fact that this year feels different. The influx of year-round residents is apparent and when combined with many businesses closing for the season or permanently we are experiencing a much busier than usual fall.

The inventory crisis is very much alive and well, resulting in a leveling of YTD numbers for single family home* sales while vacant land sales are still crushing 2020 numbers. July and August were extremely slow months for new listings, and while it seems to have picked up since Labor Day, the data showed September listings were down almost 36% compared to September of 2020. When a property is priced correctly many sellers are still seeing multiple offers and getting well over asking price.

On October 1st there were 531 single family homes* for sale (-42.47%YTD) and 651 vacant lots for sale (-43.78%YTD) in Vilas and Oneida counties. The average sale price for single family homes is up 26.36% since 2020 and 37.65% since 2019. Vacant land new listings dropped in the third quarter (-6.63% YTD) after being the only category where new listings were ascending at the end of the second quarter. The average days on market has also dropped to 76 (-33.55%) for single family homes and 276 (-21.27%) for vacant land between the two counties.

With the amount of buyers we see competing it is hard to tell when our inventory pool is going to catch up and the market will balance. We predict the market will stay strong for sellers well into 2022.

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


2021 Market Recap

2021 Northwoods Real Estate Market Recap-Oneida and Vilas Counties, 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


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