April 7, 2010
Here are a few observations on the 2010 Lake Vermilion area real estate market for the first 3 months of 2010.
First of all, activity is way up over the same period in 2009. Inquiries and property tours started early in the calendar year and are ongoing.
Also, the number of completed and pending sales (Lake Vermilion only) is markedly higher so far this year. In fact there have been 11 to 13 (dependent upon where you look) completed or pending sales! That may not seem significant but it represents about 10% of the current available Lake Vermilion inventory.
Those are sales that would not normally be expected during the months of January, February, and March.
Successful Buyers have had the opportunity to view numerous listings and select the most attractive of the group.
I would have the opinion that this heightened Buyer interest will continue into the prime selling season of April through September.