After what is typically our two slowest months of the year, we are pleased to see the activity step up noticeably in March. The Door-Kewaunee real estate markets came alive after hibernating for the last two months.
This activity is portrayed mostly by the number of sales that were transacted during the month. We saw the largest number of sales in the past 10 years. There were 59 sales for $8.9 million dollars recorded in the MLS system.
As great as this sounds, there is a bit of a caveat that appears when we look closer at the numbers.
First we look at median price. For March it checked in at $87,000. Last year it was $147,500 and in 2014 it was $155,500, a definite downtrend. What caused this???
In reviewing the sales activity, I found most of the activity taking place was in lower priced vacant land and lower-end housing. With some attractive financing packages available for first time buyers, this is expected. I see no reason to be alarmed and I expect median prices to level off at or slightly above last year’s level.
Here at ERA Starr Realty we always look beyond the numbers in analyzing the real estate activity in our market area. We feel it is our job to have a comprehensive understanding of just what is going on in the market at any given time. Let us know if we can help with any of your real estate needs. We are…”Always There For You!”
