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Time to look at the stats for the first half of the year for Washburn and Burnett Counties.  It looks like Burnett County watefront properties have been holding their own.  Last year through the first 6 months there were 58 closings on the MLS.  This year there were 59 closings on the MLS.  The median price for the first half of the year was 233,500 and the average was 255,592.  Last year the median price to date was 225,000 and the average was 241,690.  So at least the volume is staying up there from last year.

Burnett County residential (non-waterfront) properties it isn't so good.  So far the number of closings was 61, and the median price for the first half of this year was 85,000 and the average was 96,037.  Compare this to last year were the total number of residential (non-watefront) properties closing was 77 and the median price was 115,000 and the average sale price was 120,994. 

In Wasbhurn County the opposite is the case.  Waterfront property closings are down from 59 to 41 for the first half of the year.  The median price for waterfront properties is 250,000 and the average is 253,878 for the first half of this year.  Last year it was 239,900 and 272,032.  So it is interesting that although the total number of sales is down the sale prices are remaining steady.

Residential (non-waterfront) properties in Washburn county show a better picture.  The total number of sales last year were 62 up to this point, and the median price was 104,450 while the average was 118,366.  This year the total number of sales for the first half was 114,500 and the average was 116,733.  Total sales up, but the actual sales price is pretty steady.

The problem with statistics is that it always doesn't show the true picture.    All this is saying is that in general people are not willing to pay significantly more than in the past, and the question is, "Are they expecting more for their money?"  We still have a large supply of homes on the market.  So we know that it is a buyers market.  Are people paying about the same, but getting more?  That's something only time will tell as we actually begin doing appraisals on these properties.  From my experience in doing appraisals my hunch is people are paying about the same but expecting more.  But that is very hard to quantify.