Lake of the Woods Market Stats July 2017
Another stellar month for home sales in Lake of the Woods! Year to date we have seen a 24.8% increase in closed sales over 2016: 166 vs 133. Another sign that the market is healthy and stable is the 5 year average of 23 sales is below July's closed sales of 28. In the housing market consistency is good!
One trend that also has been ongoing is the lack of inventory. This is reflected in the below average “active listings” and “month's supply.” For those who have been thinking of making a move out of LOW this is an encouraging sign. Fewer homes means less competition if you decide to sell.
Stay tuned for more market updates as we end the summer and begin the beautiful transition to Fall.