2021 is off to a great start for the real estate industry in Door and Kewaunee Counties. We see a continuation of the major spurt that started the second half of 2020. Sad to say but we appear to have adjusted to living with the pandemic and making the changes in our lives that allows us to make cautious real estate decisions.
January 2021 is the best January we have experienced in at least 8 years. Needless to say, January is never a concrete indication of just how the market will react for any year, but it is encouraging.
Total number of sales in the Multiple Listing Service (MLS) for January was 86. That compares to 60 in 2020 and a previous high over the last 8 years of 62. That’s a very healthy increase of 43% over last year. Total volume for those 86 sales was $16.7 million. 2020 volume was $12.6 million, so we show an increase of 33% in dollars. The highest January volume in the last 8 years was $13.3 million back in 2018.
Median price for the month of January is never a great indicator of just how healthy the real estate market is. There typically are few high-end sales during the first few months of any year. These sales usually take place in the spring through late fall, so we will see median price elevate as we move through the year. Over the last 8 years median price for the month of January has fluctuated from a low of $129,000 to a high of $163,250 in 2020. January of 2021 checks in at $151,250, the third highest in those 8 years.
All indications point to another banner year for real estate in Door and Kewaunee Counties. Interest rates remain very low, buyers have money in their pocket and banks are anxious to write mortgages. The only negative for some areas like Sturgeon Bay is a very real shortage of homes for sale.
Buyers need to be alert for properties coming on the market and here is where ERA Starr Realty excels! We have listed and sold more properties than any other agency in the two county area over the last 10+ years. Call an ERA Starr Realty agent if buying or selling… “We are Always There for You!”
