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Saturday, November 23, 2024

Lake of the Woods home prices rise in the first half of 2017

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The median sale price of a home sold in the first half of 2017 in Lake of the Woods rose by $4,000 while total sales increased by 12.5%, according to BlockShopper.com.

From January through June of 2017, there were 18 homes sold, with a median sale price of $188,750 - a 2.2% increase over the $184,750 median sale price for the same period of the previous year. There were 16 homes sold in Lake of the Woods in the first half of 2016.

The median sales tax in Lake of the Woods for 2017 was $3,175. In 2016, the median sales tax was $3,204. This marks an decrease of 0.9%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.7%.

The following table compares Lake of the Woods to other Champaign County cities with similar median sales prices in the first half of 2017:

CityJan. - June 2017 Home SalesJan. - June 2016 Home Sales% change (Total Home Sales)Jan. - June 2017 Median Sales PriceJan. - June 2016 Median Sales Price% change (Median Sales Price)
Seymour12-50%$380,000$159,750137.9%
Glover6450%$248,500$223,50011.2%
Dewey10742.9%$238,000$119,000100%
Mahomet151155-2.6%$206,900$208,500-0.8%
Lake of the Woods181612.5%$188,750$184,7502.2%
Savoy113127-11%$185,000$187,000-1.1%
St. Joseph4453-17%$153,750$155,000-0.8%
Bondville73133.3%$145,000$75,00093.3%
Tolono403611.1%$144,750$142,4501.6%
Foosland220%$142,750$139,9502%
Champaign854893-4.4%$137,200$133,5002.8%

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