June was Great! July was Very Good! The Door County MLS system does a super job of providing information on the real estate markets in Door and Kewaunee Counties. This gives us all the information we need to track market activity regarding sales pace and pricing.
Hence, we experienced a super June, followed by a very good July…..and the numbers do not lie!
July activity resulted in a total of 108 sales totaling $5.1 million in volume, just under June’s total of $19.6 million. These two volume numbers are the best our markets have experienced since the hay days in the mid 2000’s.
Median price for July was down from $147,500 last month to $133,000 in July. Much of this decrease can be attributed to an unusually high number of low priced sales of vacant lots at a development property near Sturgeon Bay. That’s why it is important to ask “why” when we see an unusual fluctuation in market data.
Speaking of market data, let’s take a quick look at median price for residential inland homes in our various Door-Kewaunee markets. It is important to be careful when painting with a broad brush regarding median price. Example: Year to date median price for residential inland homes in the MLS shows a decrease of 2% from 2015, dropping from $145,000 last year to $142,000 this year. However, in the Sturgeon Bay market, median price increased from $135,000 to $143,000 this year….a nice 6% increase!
I like to identify 6 separate housing markets covered in the MLS. They start at the Northern tip of Door County and extend down to Kewaunee County. When looking for meaningful information on property values, it is important to identify the proper area so accurate results can be obtained.
Here at ERA Starr Realty, we take the time to carefully analyze all factors when working with buyers and sellers. Real estate buying and selling is always a major decision for customers and clients, and accurate information is essential in making good decisions. We offer our experience and expertise in helping with those decisions. We are…”Always there For You”!
