August continued a strong resurgence of the real estate market here in the Door-Kewaunee market area. Although volume was down just a bit, the number of sales continued its upswing, showing good all-around activity.
Here’s the skinny for August 2015 compared to 2014. The number of sales was up from 90 last year to 100 this year (highest since 2006), while volume declined from $19.4 million in 2014 to $18.4 million this year…a decrease of just 5%.
An increase in Median Price completes the good news for August. Up for the fourth straight year, median price ratcheted up from $137,500 last year to $145,000 this year. This compares to a peak year in 2006 where median price was $150,000.
We do have to be careful when discussing median price. It’s not safe to make a blanket statement that all types of property are increasing in price. In looking over median price for the various types of properties at the mid year point we see the following changes in median price: Residential Inland homes dropped from $147,500 to $141,000; City of Sturgeon Bay home prices went up from $117,900 to $135,000; Residential Waterfront homes decreased in median price from $328,750 to $298,000; Residential Condos went up from $230,000 to $253,900.
Because of these variations, it is important to have a knowledgeable professional with current information at your disposal when making decisions regarding your real estate questions. Here at ERA Starr Realty, we pride ourselves in keeping up to date on all that is going on in our market area. We are…“Always There For You”!
Until next month,
Dennis J. Starr
Realtor Emeritus
