Oconomowoc and the Lake Country Area is a great place to be during summer. Here is a list of kid friendly activities and community events taking place throughout the summer season. Please make sure to visit the corresponding business or organizations’ websites that are hosting an event to confirm and view event details.
Dirty Kettle, a fur-trading, mountain man visits Concord General Store a few times during summer to showcase the ways and traditions of the Plains Indians and Mountain Men of the 1800’s. Visit his 16’ teepee and other items to transport back in time. While you’re there, stop at the free Concord Zoo to feed some animals.
Another Oconomowoc tradition during festival week in August! Watch the boat parade on Lake La Belle as boaters show off their boat decorations for the occasion. Stay for the fireworks show that they display over the lake.The low inventory of homes for sale continued to suppress the number of home sales and put upward pressure on home prices across Wisconsin. Comparing the number of home sales in April to the respective month last year, home sales were down nearly 10% statewide according to the Wisconsin REALTORS® Association’s most recent home sales report.
In Waukesha County, home sales for the first four months of the year slightly trailed behind the number of sales during the same period last year but median home sale prices increased over 6%. There were more new listings this April, but the total number of listings were down. The combination of strong buyer demand and low supply of homes for sale has pushed up housing prices substantially. Although affordability has decreased, we would have still seen more sales if there were more homes available to purchase.
It has been a strong Seller’s market for the last couple years but Buyers can still find some good opportunities. Make sure you have your financing ready and be prepared to act quickly when you find the right home. Working with a REALTOR® that has extensive knowledge and experience in real estate contracts is key to successfully buy a home in today’s tight market.
Source for information and data: “Wisconsin REALTORS® Association: April 2019 Home Sales Report.” WRA, 20 May 2019, www.wra.org/StdContent.aspx?id=2147498345&sso=1.
Is condo living right for you?
Tips for home buyers to win a bidding war in a hot market
Buying a condominium may be a great alternative as opposed to purchasing a home. Maybe you’re retired and wish to travel more; maybe you want to finally buy your own place to break free of renting. Whatever the reason, you should first consider what condo living entails to determine if it’s the best route for you. Here are some common benefits and drawbacks of condo living:
BENEFITS:
DRAWBACKS:
Buying a condominium can be the perfect decision for some people. If you’re looking to find a condo for sale in Oconomowoc, there are plenty of options. Follow the links below to browse condos and homes for sale in Oconomowoc.
Condos with lake access in Oconomowoc
For the first quarter of 2019, the number of home sales in Wisconsin were behind over 7% relative to last year’s first quarter, according to the most recent home sales report from the Wisconsin REALTORS® Association (WRA). Over the same time period, the quarterly median price increased 5.5%. Lack of inventory was the major contributing factor for sales to cool off and home prices to heat up, especially in urban localities.
Homes have appreciated considerably over the past seven years. To put it in perspective, Wisconsin’s median home sales price in March 2019 ($185,000) was over 50% higher than in March 2012 ($123,000). Generally, the real estate market becomes more active in spring, with an increase in new listings and more home sales. In Waukesha County, the number of home sales grew less than 25% from February to March compared to the 54% growth of home sales for the respective months last year.
Sellers definitely have the advantage in most markets but there are still some good opportunities for Buyers. If you’re looking to buy a home this year, make sure you have your financing ready, be prepared to act quickly, and work with an experienced REALTOR® that can guide you to a successful closing.
Sources for data and information:
“Market Summary.” Flexmls.com, Metro Multiple Listing Service, Inc. , met.flexmls.com/.
“Wisconsin REALTORS® Association: March 2019 Home Sales Report.” WRA, 22 Apr. 2019, www.wra.org/HSRMar2019/.
A great way to expand your living area is to create outdoor living spaces. Regardless if you have a huge yard or a small patio, these design tips can help you create an outdoor space that you will want to relax or entertain in.
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If you’re ready to find homes for sale in Oconomowoc or the Lake Country area, raise your chances of getting the home that you really want by following these tips. It has been a competitive housing market for homes in the Oconomowoc Area priced below $350,000 due to low inventory. These tips can help you win a bidding war on a great home in a hot housing market.
By following these tips, you can increase your chances of beating out the competition when bidding on a home in a tight housing market. First and foremost, make sure you are working with a realtor that you can trust and who will give you good advice.
If you’re looking to find a realtor in Oconomowoc, contact Oconomowoc Realty. Our team of realtors have extensive knowledge and experience in real estate contracts and strong contract negotiating skills. Learn what others have to say about working with us by visiting our Testimonials page.
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Spring is a beautiful time in Oconomowoc! Being both a Tree City and Bird City, Oconomowoc offers plenty of opportunities to see and hear the signs of Spring. The season is the perfect time of year to get out of the house and enjoy the natural beauty and fun happenings that take place this time of year. Check out our list of 10 things to do this Spring in Oconomowoc.
Please make sure to visit the corresponding business or organizations’ websites that are hosting an event to confirm and view event details.
– Bike or Hike the Lake Country Recreational Trail
A great way to get out and enjoy the sights and sounds of spring in Lake Country is to bike or hike the scenic Lake Country Recreational Trail. Stretching 15 miles, the paved trail runs from Pewaukee, through Delafield, and ends at Roosevelt Park in Oconomowoc.
– Relax out on the boardwalk Downtown Oconomowc.
Grab lunch or a good book and relax out on the boardwalk situated on the shoreline of Fowler Lake.
– Ladies Night Out Downtown Oconomowoc: April 4
Sip and shop through Downtown Oconomowoc and enjoy specials, fun and prizes. One of the many events sponsored by the Downtown Oconomowoc Business Association.
– Beer Tapping at Brewfinity Brewing: April 6
Join Brewfinity and Charitable Hops as they celebrate the 2018 Charitable Hops Contest Winner, Mark Dufek and his American Pale Ale “Da Crusher”. Proceeds from the sale of his ale and $1 from all other Brewfinity tap beer sold that night will be donated to Silver Streak, a nonprofit transportation service.
– Hit up a HUGE Rummage Sale: April 13
The annual HUGE Rummage Sale at First Congregational UCC in Oconomowoc takes place mid April. From furniture to collectables, you’ll be able to find something for everyone there.
– Take the Historic Walking Tour around Fowler Lake
Pick up a brochure at the Oconomowoc Realty office or at City Hall which has a map and brief history about each landmark. Glimpse into the history of Oconomowoc when it was known as the “Newport of the West”.
– Oconomowoc Chamber Orchestra Spring Concert: April 14
With the 2019 Chatfield Award Presentation, the Oconomowoc Community Choir, and the Silver Lake Singers taking place at the Oconomowoc Arts Center.
– Eat at the Kiltie Drive-In
Once their flags are flying high, you will know that the Kiltie is open for the season! The classic Oconomowoc drive-in is a staple in the community and the perfect place to enjoy a burger and a shake.
– Spring Gallery Night Downtown Oconomowoc: May 3
An Oconomowoc tradition! Enjoy art and music throughout downtown and the downtown stores. Another great event put on by the Downtown Oconomowoc Business Association.
– Visit the animals at Concord Zoo- Free admission!
Stop by Concord General Store (Exit 275 off I-94) in Oconomowoc and visit the animals at Concord Zoo.
Admission is free but donations are appreciated.
Despite the frigid weather we had in February, home sales in Wisconsin surpassed last February’s sales record. The real estate market generally follows a seasonal pattern with the market picking up in Spring. As you can see from the home sales chart below, the busy real estate season is upon us.
Homes sales for the first two months of the year were still off nearly 3.5% statewide, compared to the respective months last year, as reported in the Wisconsin REALTORS® Association’s most recent home sales report. More real estate listings in Oconomowoc and the surrounding area have been popping up on the market. Demand for housing remains high in the local area and is only expected to increase as warmer weather moves in. If you are planning to buy a home this year, being decisive and working with an experienced, local realtor can help set you up for success in this competitive real estate market.
Sources for data and information:
“Wisconsin REALTORS® Association: February 2019 Home Sales Report.” WRA, 17 Mar. 2019, www.wra.org/HSRFeb2019/
“Wisconsin Housing Statistics.” WRA, www.wra.org/HousingStatistics/.
Demand for homes in Oconomowoc and the Lake Country area have been in high demand. Since 2017, it has been a strong Seller’s market due to high demand for housing and limited supply. It is still a Seller’s market, but not the red-hot Seller’s market you saw over the last couple years. If you’re thinking about selling, it may be better to do so sooner than later before the housing market shifts more in Buyer’s favor.
February 2019 Home Sales Report: Housing Supply Stalls as Strong Demand Remains
Total Home Sales in 2018 Came in Just Short of 2017’s Record Year
Browse Oconomowoc Homes for Sale
Browse Oconomowoc Condos For Sale
Home sales in January are off nearly 9% in Wisconsin compared to last January’s strong start to 2018, as reported in the most recent Home Sales Report released by the Wisconsin REALTORS® Association (WRA). It has been slim pickings for home buyers as housing inventories remain tight, especially for homes priced under $300,000 due to high demand. Housing inventory in Wisconsin stalled at just 3.5 months of supply, well below 6 months of supply which marks a balanced market. The limited housing supply has not only suppressed the number of home sales but has propelled housing prices. The median home sales price increased 3.5% from last January.
Since 2017, the state has had a strong Seller’s market according to WRA president and CEO, Michael Theo. If you’re thinking about selling, 2019 may be the year to do so or it may get more challenging and less rewarding. Home prices are not increasing at the same velocity they did a year ago and more new construction homes and condominium developments in the area are anticipated to be completed this year. More housing supply will help offset the high demand for homes in Oconomowoc and the Lake Country area, helping to moderate home prices. Generally, winter is a good time for buyers to find good values as demand tends to be lower during the colder season. As we move closer to the spring and summer months however, expect more competition and higher prices. In today’s vigorous real estate market, an experienced Realtor working on your behalf is indispensable. Hiring an experienced Realtor with strong contract negotiating skills along with extensive knowledge and experience in crafting offers greatly increases your likelihood of getting to a successful closing on the most favorable terms.
Sources for data and information:
“Wisconsin Housing Statistics.” WRA: Wisconsin REALTORS Association, 18 Feb. 2019 www.wra.org/HousingStatistics/
“Wisconsin REALTORS® Association: January 2019 Home Sales Report.” WRA: Wisconsin REALTORS Association, www.wra.org/HSRJan2019/.
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