Madeline Island December 2010 Real Estate Market Report

MADELINE ISLAND DECEMBER 2010 REAL ESTATE MARKET REPORT – ASHLAND COUNTY, WISCONSIN

As reported by the Wisconsin Realtors Association (WRA), November sales of single-family homes in Ashland County, Wisconsin declined by fifty per cent compared to November 2009 statistics.  There were twelve reported home sales in November of 2009 and only six reported sales in November of 2010.  Madeline Island Realty (in LaPointe, Wisconsin) made one-sixth (nearly 17%) of the total November 2010 home sales in Ashland County.

Average sold prices for Ashland County homes also declined in November of this year when compared to 2009 statistics.  November 2010 average sold prices were down 21.1% from a year ago.  The average price for a single-family dwelling sale in Ashland County in November of 2010 was $110,400.

Our recent November home sale (buyer procured by Madeline Island Realty and co-listed by Madeline Island Realty) closed at nearly 500% of the average sale price in Ashland County reported for the month of November.

This November, 2010 sale was our second closed sale of a Madeline Island waterfront property within a month.

Madeline Island Realty reported the only recent sale (during the past eight months) in excess of half a million dollars in LaPointe, Wisconsin.

Madeline Island Realty also recorded the only closed sale of a vacant waterfront parcel on Madeline Island in October of 2010. While this was a vacant land sale instead of a dwelling sale, the sold price for this transaction was nearly double the average dwelling sale price (average price calculated as $158,000) reported in Ashland County, Wisconsin for the month of October 2010.

Ashland County, Wisconsin has a population of just over 16,000 and covers a land area of 1044 square miles.  There are nearly fifty real estate licensees currently working in northern Ashland County.

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