I finally have a moment to sit down and write this blog! It has been a very busy month (I think summer if finally here in Ely!) - we have had an overload of new listings! Everyone wants to sell their property, so it seems. Also, we have finally been out and about showing properties. Hopefully a little spike in the market is on its way.
Since there are too many to mention, check out our new listings page for all the properties that have come on the market in the past month!
By Anna Yahnke
market conditions
market upturn, new listings
We had a great weekend at the Lake Home & Cabin Show in Minneapolis last weekend. The real estate climate is upbeat & the numbers are proving it with an upswing in the market.
As with the talk, March was a better month - spring is finally on the horizon and buyers and sellers are out and about. The Arrowhead MLS had 19 closings this month, doubling up from just a month ago with 9. The Ely offices had 7 closings - up from just 1 in February. We all hope for a steady increase in business with new listings, showings, and sales.
By Anna Yahnke
market conditions
lake home and cabin show, march, real estate climate
March 20, 2009
Spring has sprung in Ely! The date says its spring, but the weather is having a difficult time cooperating with the calendar.
As for real estate, spring has really sprung with the amount of activity around the office. New transactions are coming together, buyers are coming to look at property, and the new listings are arriving.
We are going to the Lake Home & Cabin Show April 3-5 in Minneapolis and it is a great time to get properties listed prior to the show so we can get the information into potential buyer’s hands. We have been going to this show at the convention center for 5 years & it has been an excellent tool for getting our company name right at the people of the Minneapolis-St. Paul area and marketing our properties for sale. We have an attractive northwoods booth positioned on a corner for better exposure. If you’re coming to the show be sure to stop by & say “hi” to myself of any of our other agents who will be represented at the show.
By Anna Yahnke
market conditions
lake home and cabin show, spring
Winter Sunset - Grassy Lake near Ely
As I returned to Ely after vacation my world as I knew it changed in one swoop. Monday, February 9th, Coldwell Banker 1st Ely Realty announced that they were closing their doors. A big hit to the industry, community, and people involved. (For more, check out the article in the Ely Echo) As the week progressed rumors spread, agents spread, and through it all we are trying to conduct business as usual with our clients.
As the fog begins to settle we pick up the pieces and position ourselves in our new market conditions, competition, etc. Our message to the general public was and will continue to be that we continue to provide professional service to each of our customers for all your real estate needs in northeastern Minnesota.
Ely Events, market conditions
customer service, real estate climate
January is seemingly one of our slowest real estate months. It’s difficult to get out & look at properties due to dangerously cold temperatures and high snow levels. Plus, the media is negative, foreclosures are up, and if the feds lower their rates and further they will be negative! How does all this affect real estate in Ely? Typically, Ely has been sheltered by the doom and gloom of the nation but today all these things have slowed our market. The numbers: 2007 & 2008 we sold the same number of parcels – but our total value was down $1Million Dollars. The entire MLS had 484 sales in 2008 vs. 679 sales in 2007. The average sale price was consistent at $157,000. The interesting thing is most people still want a north woods cabin no matter what the market condition. Therefore, it is still optimal to purchase a cabin or land here in Ely. Looking forward to next month, maybe the “bottom has fallen” and it is back to real estate as usual.
market conditions
trends
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