As promised, here is the year-to-date (January – July) summary of the real estate action for residential homes in Door and Kewaunee Counties. Activities will be compared to 2019. 2020 is not used because of the dramatic negative influence of the pandemic on sales for that year.
Area markets will be broken down for inland home sales and a separate category will identify residential shore home sales.
Northern Door: Jacksonport, Egg Harbor and north (except Washington Island) – 61 homes were sold in 2019 compared to 85 in 2021. A 40% increase in the number sold while median price increased from $246,500 to $386,460, a 57% increase.
Southern Door: Sevastopol south to the county line (includes Sturgeon Bay) – 94 homes sold in 2019 vs. 96 in 2021 (little increase mostly because of lack of inventory). Median price increased from $167,200 to $232,500, up 39%.
Kewaunee County: 33 homes sold in 2019 compared to 38 here in 2021. Again lack of inventory limited activity. Median price jumped from $113,500 to $169,900 for an increase of 50%.
How about residential shore home sales for both counties? Here we see the number of sales increase from 46 in 2019 to 62 this year. That’s up 35%. Median price also soared from $391,500 in 2019 to $576,000 here in 2021. That’s a 47% increase.
Another item that was evident in reviewing sales information was a strong decrease in Days on Market (DOM). In short, homes are selling FAST. Buyers have to be ready to act and have to have cash or be pre-qualified at a lender. Multiple offers on homes are common and the best offer usually wins.
To say the housing market is hot is a gross understatement. Low interest rates, high demand, strong stock market, escape from the big city, ability to work from home are all factors in creating this market. Here at ERA Starr Realty, we understand what is going on at all times. We can help buyers and sellers weave their way through any transaction. We are “Always There for You”.
