Let’s close the door on 2020 and lock it. The pandemic has overshadowed what is likely the most successful year in real estate for Door and Kewaunee Counties. Why? We have discussed this at length in previous newsletters but to recap: historic low interest rates; pandemic driving city dwellers to more tranquil pastures in less populated areas; and ability for many to do their jobs from homes, along with many other factors.
Just how strong was the real estate market for Door and Kewaunee Counties?
- Compared to 2019, which was a very good year, total sales jumped 19%
- Volume of those sales increased 33%
- Median price increased from $165,000 to $180,000 – up 9%
All types of residential homes and other properties increased in median price as follows:
- Residential inland homes up 19% to a high of $226,500 from $190,000 in 2019
- Sturgeon Bay homes jumped from $158,000 to $182,000 – up 15%
- Residential shore homes up 24% from $410,000 to $510,000
- Hotel condominiums up 21% to $83,000
- Residential condominiums increased to $299,900 – up 7%
- Vacant land values moved up from $69,000 to $83,500 – up 21%
It should be noted that Northern Door County experienced the strongest increase in number of sales and median values. This market was truly “red hot” and was blessed with ample inventory while Sturgeon Bay and south struggled with inventory…simply more buyers than sellers. Classic supply and demand problems.
ERA Starr Realty, north and south, is happy to report we again led the MLS in properties listed and sold with a total of 376 transactions. This has been the case going back many years and exemplifies our dedication to our buyers and sellers. As always, we are “Always There For You”.
