July 25, 2011

Is it time to take the plunge for a condo purchase in Walworth County?

Posted to Geneva Lake Area

Is it time for buyers to take the plunge for a condo in Walworth County? When you look at the closed sales from January 2010 to July 22, 2010 vs. the same time for 2011, it sure looks like it. We are closing more sales! There were 120 closed transactions in 2010 and there are 133 closed condos to date in 2011. I know – I should be happy!

Why am I feeling reserved about a positive note in the condo sales climate? It has to do with the additional erosion of sales prices. For example, a list price of $100,000 in 2010 averaged a list to sell price of 93% or $93,000. Take the same $100,000 condo in today’s market, and you are looking at an average of 88% or $88,000. Bad news for sellers – Great news for buyers!

There are currently 594 condos for sale in our MLS today. There are 12 with accepted offers, and there are 9 that are pending (waiting to close), and there are a total of 10 marked as foreclosures. The price range starts at $21,900 for a vacation get away at Willow Run and runs to $3,290,000 for a fantastic flat at Stone Manor. In other words – there is something for everybody, so jump in!

As always, feel free to text, call or email me. I can show you any condo area, but I specialize in Abbey Springs, Geneva National, and Willabay Shores.

Posted by:  Stacey Schultz

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