Market Conditions for Lake Country, Wisconsin Reported by John Stevens, REALTOR Updated January 17, 2012.

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

The market continues to be soft especially for higher priced single family homes and condominiums in all price ranges and the current supply of properties is very high relative to sales as indicated by the following report. This information was taken from the local MLS and it has been stratified into the following categories to make it more meaningful:

1. Single family homes, excluding new construction & waterfront
2. New Construction, excluding waterfront homes
3. Waterfront homes
4. Condominiums

Single Family Homes, excluding New Construction & Waterfront Homes

As of Jan 1, 2012, there were 430 active and pending single family listings for sale (161 priced under $250,000, 139 priced between $250,000 and $400,000, 88 priced between $400,000 and $700,000 and 45 priced over $700,000).

For the year ended Dec 31, 2011, 577 single family properties sold (285 under $250,000, 168 between 250,000 and $400,000, 110 between $400,000 and $700,000, and 14 over $700,000). For the year ended Dec 31, 2010, 550 single family homes sold (246 under $250,000, 185 between $250,000 and $400,000, 103 between $400,000 and $700,000 and and 16 over $700,000). This represents a 5% overall increase in sales year over year (a 16% increase for homes priced up to $250,000, a 9% decrease for homes between $250,000 and $400,000, a 7% increase for homes priced between $400,000 and $700,000 and a 13% decrease for homes over $700,000).

Based on the sales rate for the 12 months ended 12/31/11, there is a 271 day overall supply of homes on the market at Jan 1, 2012 (205 days for homes priced up to $250,000, 294 days for homes from $250,000 to $400,000, 290 days for homes from $400,000 to $700,000 and a 1,167 day supply of homes priced over $700,000).

New Construction excluding Waterfront Homes:

For new construction homes in this area, as of Jan 1, 2012, there were 50 active and pending single family listings for sale (17 priced under $400,000, 31 from $400,000 to $700,000 and 2 priced over $700,000).

For the year ended Dec 31, 2011, 33 single family new construction homes sold (23 under $400,000, 9 from $400,000 to $700,000 and 1 over $700,000). For the year ended Dec 31, 2010, 39 single family new construction homes sold (24 under $400,000, 10 from $400,000 to $700,000 and 5 over $700,000). This represents a 15% overall decrease in sales year over year (4% decrease for homes priced up to $400,000 , 10% decrease for homes from $400,000 to $700,000 and a 80% decrease for homes priced over $700,000).

Based on the sales rate for the 12 months ended Dec 31, 2011, there is a 550 day overall supply of new construction homes on the market at Jan 1, 2012 (270 days for homes priced up to $400,000, 1,250 days for homes from $400,000 to $700,000 and a 726 day supply of new construction homes priced over $700,000).

Waterfront Homes:

For waterfront homes in this area, as of Jan 1, 2012, there were 171 active and pending single family listings for sale (32 priced under $400,000, 64 priced from $400,000 to $700,000, 28 priced from $700,000 to $1,000,000 and 47 priced over $1,000,000). Waterfront homes include homes on lakes, ponds, rivers & creeks.

For the year ended Dec 31, 2011, 108 single family waterfront homes sold (40 under $400,000, 34 from $400,000 to $700,000, 16 from $700,000 to $1,000,000, and 18 over $1,000,000). For the year ended Dec 31, 2010, 90 single family waterfront homes sold (23 under $400,000, 37 from $400,000 to $700,000, 15 from $700,000 to $1,000,000 and 13 over $1,000,000). This represents an 20% overall increase in sales year over year.

Based on the sales rate for the 12 months ended 12/31/11, there is a 575 day overall supply of waterfront homes on the market at Jan 1, 2012 (290 days for homes priced up to $400,000, 683 for home priced from $400,000 to $700,000, 635 days for homes from $700,000 to $1,00,000 and a 948 day supply of waterfront homes priced over $1,000,000).

Condominium Homes:

For condominium homes in this area, as of Jan 1, 2012, there were 144 active and pending listings for sale (58 priced under $150,000, 44 priced from $150,001 to $250,000, 27 priced between $250,001 and $400,000 and 15 priced over $400,000).

For the year ended Dec 31, 2011, 129 condominium homes sold (54 up to $150,000, 48 from $150,001 to $250,000, 22 from $250,001 to $400,000 and 5 over $400,000). For the year ended Dec 31, 2010,144 condominium homes sold (54 up to $150,000, 55 from $150,001 to $250,000, 26 from $250,001 to $400,000 and 9 over $400,000). This represents a 10% overall decrease in sales year over year (no change for condos up to $150,000, 13% decrease for condos priced from $150,000 to $250,000, 15% decrease from $250,000 to $400,000 and 44% decrease for condos priced over $400,000).

Based on the sales rate for the 12 months ended 12/31/11, there is a 405 day overall supply of condominium homes on the market at Jan 1, 2012 (390 days for condos priced up to $150,000, 333 days for condos from $150,001 to $250,000, 446 days for condos from $250,001 to $400,000 and 1,089 days for condos priced over $400,000).

Free Comparable Market Analysis

With fixed term interest rates very low and a large supply of homes, it's a great time to buy! If you are considering a move and would like to receive listings of properties as they come on the market, give me a call at 262 490-8918 or send me an email at jstevens@firstweber.com. If you would like to know how other homes similar to yours are currently priced or the amount recent sales achieved, please call me or e mail me and ask for a free comparable market analysis.




Approximate Location Boundaries: Grid coordinates S7, N88, W250, W400 excluding Waukesha. This is approximately highway T on the east, the county Boundaries on the west, highway 18 on the south and highway CW on the north

Location Characteristics: The Lake Country area is 30 to 45 minutes west of downtown Milwaukee and contains numerous lakes. The communities in Lake Country are comprised of very upscale subdivisions and lake properties as well as lower priced properties. Schools are excellent and shopping is nearby.

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