I ran the Lake Geneva markets sales figures for the year to date, and thought I’d share those findings with you. I compared all sales listed in the MLS from 1/01/07 to 5/11/07, and the sales of the year prior during the same period of 1/1/06 to 5/11/06. The properties included are only single family homes with lake access or lake frontage on Geneva Lake. The satistics are telling. By the way, I wasn’t a math major, so while these figures are accurate, don’t forget to consider one of these +/- things….
1/1/06 to 5/11/06 1/1/07 to 5/11/07
Total Sales 28 23
Total List $28,389,400 $29,879,977
Total Sale $26,543,500 $27,640,500
Average List to Sale 93.4% 92.5%
Average Sale Price $947,982 $1,201,760
The statistics are telling, even though the total sales in our market during any time period isn’t necessarily a large enough sample to fully guage the market. Example being, one $5,000,000 sale that closes for $4,975,000 can dramatically change the list to sale ratios. Nonetheless, these stats show that our market remains strong, even in the face of a nationwide softening.