RE/MAX Northern Lakes
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1774 Superior St
PO Box 307
Three Lakes, WI 54562
(715) 546-8295 Office
(715) 546-3303 Fax
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The Time To Make Your Dreams of Owning a Home in The "Northwoods" is NOW!
The ultimate resource for professional real estate information. With over 50+ years of experience and service for both buyers and sellers in the greater "Northwoods Area" with the world's largest inland chain of lakes. Now serving Three Lakes, Eagle River, Sugar Camp, Phelps, Hiles, Monico and Argonne areas. Find your Lake Home, Country Home, Vacation Home, Vacant Land or Business here! We have been involved with the buying and selling of homes in Three Lakes and adjacent areas for over 60 years. RE/MAX Northern Lakes has been an important part of the local community since its inception and will continue to serve all of the area's real estate needs. We are a 4th generation family owned real estate office. This is the place to find homes for sale in Three Lakes or Northern Wisconsin!
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Latest Realty News from NAR
At the national level, housing affordability is down from last month and down from a year ago. Mortgage rates rose to 4.42 percent this March, up 8.2 percent compared to 4.28 percent a year ago.
In a monthly survey of REALTORS®, the survey asks, “Compared to the original listing price, at how much of a net discount or net premium did the property sell?”
According to a survey of REALTORS® who responded to the March 2018 REALTORS® Confidence Index Survey, 37 percent of properties that closed in February 2018 sold at or above the list price. One year ago, 35 percent sold at or above the list price, and during the months of January in 2012 through 2015, about one in four sold at or above the list price. Buyer demand continues to outpace supply of homes being listed for sale in the market, sustaining the upward pressure on home prices.
According to respondents who reported closing a sale, 17 percent of properties sold at a net premium in March 2018, an increase from the nine percent share in 2014 and 2015. Of properties that sold at a premium, 87 percent sold at 101 to 110 percent of the list price, seven percent were sold at a premium of 11 to 20 percent, and five percent were sold at more than 20 percent premium.
The price distribution continues to skew to the right. In 2012, 34 percent of properties were typically listed at $150,000 in 2012, but as of March 2018, only 22 percent of properties listed were typically at this price level.
Use the data visualization below to view the median listing price of properties listed on Realtor.com in March 2018. Red areas are areas where the listing price is higher than the U.S. median sales price of all existing homes sold in March 2018, at $250,400. Hover on the map to see the distribution of listing prices from June 2012 through March 2018 on Realtor.com data.
In a monthly survey of REALTORS®, respondents are asked “In the neighborhood(s) or area(s) where you make the most sales, what are your expectations for residential property prices over the next year?”
Among the respondents, the median expected price change is four percent. The chart below shows median expected price change by state based on survey responses collected during January–March 2018, according to the March 2018 REALTORS® Confidence Index Survey.
Respondents from the states of Washington, Oregon, Idaho, Nevada, Utah, Wyoming, Colorado, Rhode Island, and the District of Columbia expect the highest price growth in the next 12 months, with the expected median price growth at more than five to nearly eight percent. Respondents from California, Arizona, Wisconsin, Michigan, Tennessee, South Carolina, Florida, and New Hampshire also expect strong price growth, with the median expected price growth in the range of more than four to five percent.
House prices have increased steeply since 2012 compared to the growth in income. Nationally, U.S. home prices rose 44 percent during the period 2012 Q1 –2017 Q4, based on the FHFA Home Price Index expanded, not seasonally adjusted data set. Meanwhile, personal per capita income only increased by 17 percent during this period. Strong demand because of employment growth, historically low interest rates (though slowly creeping up), and inadequate home building (though steadily rising) have all contributed to the steep price increase since 2012.
According to Realtor.com data, listing prices were higher in March 2018 compared to one year ago in many metro areas, even in areas where prices are at or near the $1 million level, such as San Jose-Sunnyvale-Sta. Clara (+31%) and San Francisco-Oakland-Hayward (+6%). However, the median listing price decreased in Sta. Maria-Sta. Barbara (-28%) and Napa (-15%).
In high tax areas that were the most affected by the $10,000 total limit on deductions for property, state, and local income taxes, prices are still rising, such as in New York, Newark-Jersey City (+13%), Bridgeport-Stamford-Norwalk (+10%), New Haven-Milford (+5%), and Hartford (+4%).
Use the data visualization below to view the change in median listing prices in March 2018 from one year ago. Red areas are areas where prices rose compared to one year ago. Hover on the map to view the historical median listing prices of properties listed on Realtor.com from June 2012 through March 2018.
 Because each month’s survey asks about the outlook in the next months, the responses collected from January-March 2018 covers the outlook for January 2018-March 2019.
 The FHFA HPI is a repeat price index. The expanded data set includes county recorder data set. See https://www.fhfa.gov/DataTools/Downloads/pages/house-price-index.aspx
 Realtor.com data is freely available and can be download from https://www.realtor.com/research