Residential housing typically accounts for approximately half of all the real estate activity in the Multiple Listing Service (MLS). The second most active property category is vacant land, and certainly vacant land sales typically involve the prospect of eventually building a home.
This report will concentrate on the housing market with emphasis on location of sales, price of sales, median price and location in Door and Kewaunee Counties.
Starting at the top (literally and figuratively) is Northern Door County, excluding Washington Island. This area starts at the northern tip of Door County, Liberty Grove, and extends south to and including Egg Harbor and Jacksonport Townships. This area is loaded with high-end buyers and involves purchasing seasonal homes, often over listed price and with cash.
In 2021 there were 110 inland homes sold in Northern Door. 2022 showed 64 sales, a rather dramatic decrease of 42%. Median price accelerated from $402,000 to $497,500 this year for a 24% jump. Shrinking supply and continued strong demand are the forces at work.
Moving down to Southern Door, including Sturgeon Bay and Sevastopol Townships, we see things moderating. 113 home sales in 2021 compared to 94 here in 2022 for a 17% decrease. Median price improved from $225,000 last year to $275,000 this year for a 24% increase. Serious supply issues continue while demand remains high.
Kewaunee County, as is typical, shows little change year to year. Number of sales was down 8% moving from 48 to 44 homes sold. Median price was pretty much the same with a slight increase from $166,950 to $167,500.
We here at ERA Starr Realty feel it is important to follow the trends in all the real estate markets we serve. Our customers and clients expect us to have the latest information for them.
