Waupaca Chain Property Sales Decrease in 2018
Steve Huhta – Re/Max Lyons Real Estate February 2019
The number of Waupaca Chain O’ Lakes property transactions for 2016 and 2017 were way – way up compared to 2015 and way up from the recession years 2008 to 2011.
In 2018 the number of transactions on the Chain was down compared to 2017 but, this is because the number of homes for sale on the Chain is also – way down.
At the height of the recession there were 54 houses on the Chain for sale. Recently, there has been less than 25 properties for sale on the Chain with 3 of those being vacant land building lots on Limekiln Lake, which have been for sale for a very long time.
Most Realtors would probably agree that, the reason there were so many Chain properties changing hands in 2016 and 2017 was that lots of sales were for properties that had been for sale for a very long time so lots of “old inventor” was sold.
Current inventory on the Chain:
Today there are 23 properties for sale on the Chain, including again, 3 vacant land parcels. Additionally, four of these properties have accepted offers. So, there are 18 “homes” for sale on the Chain with two or three of those having been on the market for a very, very long time.
Obviously, 2018 and now 2019, is a great time to be a Chain property seller as buyers are now struggling to find properties that fit their needs/desires and price range. And, many Chain properties that had been on the market for a long period, finally sold over the past three years.
In 2017 and part of 2018 there were 32 to 36 Chain properties for sale in the winter months with a few more added in the summer months. But again, today – “Chain Inventory is Craze Low”
Today, both Chain buyers and sellers might have the same question: Are prices going up on waterfront properties?
Prior to this year, this was a hard one to answer analytically! But, now yes, prices are moving up for sure:
It is always hard to get good comparisons as the same house may not sell twice in a 3 or 4 year person but …. In mid-2014 a very nice Chain property sold in the lower $800,000 range and then, just sold again in 2016 in the higher $800,000s. At the other end of the value range, a nice year around house on Bass Lake which sold in the mid $200,000 range in 2012 changed owners for in the mid $300,000 range in 2016.
In the middle of the Chain price structure: I bought a buyer for a mid 300,000 Chain home in 2015. In 2017 this same home sold for about $100,000 more than these folks bought it for. And, it sold almost immediately after we listed if for sale.
Clearly, these sales show “analytically:” prices are moving up, which would be logical, given that inventory is crazy low and there are probably buyers out there that have not been able to find what they are looking for.
For a complete list of all Chain properties for sale please click here
For a Report on all Chain properties that have sold – showing the selling price – Click Here