October 8, 2018
We’re now at the nine month milepost for the 2018 Lake Vermilion real estate market.
As is nearly predicable, the early months of the second half of the selling season produce a larger number of closed sales. 2018 ramped up to stay on par with the activity level of the previous several years.
To match the break out years of 2015 and 2016 and additional 30+ closed transactions are needed. At this point of the selling season that seems unlikely.
The current number of pending sales would suggest overall sales for 2018 will be similar to 2017.
Weather conditions have a stronger influence on sales activity in late summer and early fall. Recent cool and wet conditions (with a glimpse or two of snow) are not welcome factors for active sellers. Smart buyers will “bundle up” and use this time of year to their advantage.
(As always, the grey lines show previous years and the red line represents current year data.)
(All data was sourced from the Range Multiple Listing Service.)