After a very robust first 10 months of 2017, activity for November returned to a more normal pace. With 84 sales and production of $16.2 million, market activity slowed down from the rather torrid November pace of 2016 where sales numbered 111 and production recorded a record $22 million.
Average number of sales for November over the last 5 year was 78, so our 2017 production was still well above average.
Median price year to date through November is $155,475 compared to $144,700 last year. That’s a solid increase of 7.5%. Does that mean overall prices in Door-Kewaunee Counties are up for all type properties? Probably not and here’s why!
Looking at Residential Shore Home sales we find some rather dramatic numbers for the first 11 months of the year:
Median Price for shore homes in Southern Door (all waterfront homes South of Sturgeon Bay to the county line) increased from $283,500 in 2016 to $320,000 this year for an increase of 13%.
North of Sturgeon Bay (excluding Washington Island) we discover a staggering increase in price for shore homes of 38%. Median price elevated from $452,500 last year to $623,000 here in 2017.
These numbers have a lot to do with the overall median price increase of 7.5% and points out the importance of refining market data while searching for the value of any particular property.
Here at ERA Starr Realty, we specialize in digging deep into the market data in searching for realistic values for any parcel of real estate. We feel this is necessary to provide the very best service to all our customers and clients. As usual, we are “Always there for You!