Bill Tibbetts
Associate Broker 
August 16, 2009
Mid-Month Market Update.
Thirty days ago the Lake Vermilion area market was holding it’s own when compared to stats from 2005 and 2008.
At this writing the 2009 market activity remains encouraging.
However, 2009 has now lost some of the momentum that, to this point, kept us more than on pace with 2005 and 2008. To this day, Lake Vermilion home/cabin sales remain ahead of last years rate although the margin has narrowed. The blockbuster year of 2005 saw very strong sales in July/August so we have now, YTD, fallen well behind the 2005 sales pace.
One, very curious and unexplainable, aspect of the current market is this… undeveloped lake shore lot sales are no where near the historical levels. That means the lake shore lot inventory levels are very strong. There are approximately 90 listings in that category!
Overall the total number of properties identified as “Vermilion” listings (cabins, homes, and lots) is now, in mid-August, at 208 total listings.
208!
(FYI, other lake and other property types produce their own stats. If you would like the details on some other lake, location, or category, please drop me a note.)
There is no doubt that the market has seeing a recovery compared to last year, but it is still vulnerable
Comment by Costa Rica Real Estate — September 2, 2009 @ 11:28 am