Homes for sale in Door County, Real estate, waterfront property for sale in Sturgeon Bay, Southern Door, Fish Creek, Sister Bay, Algoma, Kewaunee

January – April Newsletter

May 23, 2017 by admin

Now that we have two of our slowest months out of the way (January and February) and two of our good months in tow, we can begin to make some sense out of the direction the real state market is heading for 2017.

In two simple words, the market LOOKS GOOD!

Stable is another description that fits. With 212 sales through the first 4 months of 2016 and 216 so far this year, these are good numbers for both years and substantially better than previous years.

Two areas where stable is not the case, and excellent takes over, are Median Price and Volume. Here we show substantial increases. Median price showed a 16% increase from $122,750 in 2016 to $142,500 this year. Naturally, volume would also show a solid increase, moving from $37.4 million last year to $46.0 million this year. That’s a 23% increase.

In looking over individual agency production, we find an explanation for the rather substantial increases in dollar volume and median price: Northern Door agencies showed increased production almost across the board of 2 to 4 times their production in 2016 for the same four month period in 2017.

Last year Northern Door was “slow” for the first part of the year while Southern Door was strong. This year, most Southern Door agencies showed rather dramatic decreases in production for the January through April time period.

We know that Northern Door commands substantially higher prices than Southern Door, thus the 16% and 23% increase in median price and volume.

Here at ERA Starr Realty, we feel it is important to know and understand why the real estate market reacts the way it does. This way we can relate to our customers and clients the current status of affairs regarding their real estate interests. Call us to get the latest information on Door and Kewaunee County real estate activity. We are… “Always There For You!”

p.s. ERA Starr, Sturgeon Bay showed only a 2% decrease in volume, while all the other major Southern Door offices showed decreases of 62 to 80% for January through April.

March 2017 Door County MLS Newsletter

March 21, 2017 by admin

February, much like January, is typically one of the slowest months of the year. Consequently it is difficult to use sales data as a predictor of future activity for our Door-Kewaunee real estate markets. This has been the case since the introduction of the current MLS program in 2003.

Regardless, let’s take a look at what February had to offer: 49 sales for a total volume of $11.5 million is the best in the last 5 years. This is a bit unusual and helps create an optimistic view for the rest of the year.

Median price for the month was a whopping $159,500 which compares to $107,000 in 2016. Again, we cannot get too excited because of the relatively small number of sales for the month. We should also note that the northern part of Door County had an unusually large number of sales on “big ticket” properties compared to most years.

Year-to-date we show 100 sales compared to 76 last year, a solid 32% increase. With the help of the big numbers in February, we also see a nice increase in the median price, moving from $144,500 last year to $154,500 thus far this year. That’s a nice increase of 7%.

Overall, despite limited data, we have to conclude that 2017 is off to a very solid start. Good news for sellers. The only negative might be a limited inventory of homes and properties available for sale. 2015 and 2016 were excellent years with the total number of sales far surpassing previous years. 2016 checked in with a total of 1006 sales, compared to 953 in 2015 and 782 in 2014.

I believe we have effectively cleaned out the “excess” inventory that resulted from the housing crises of the late 2000’s and early 2010’s.

ERA Starr Realty continues to lead the MLS in total transaction thus far in 2017. Our agents remain focused on providing the best in service to all our customers and clients. Give us a call. We are “Always there For You”!

FEBRUARY 2017 NEWSLETTER

February 15, 2017 by admin

January 2017 got off to a good start. With 51 sales for $12 million, we exceeded last January’s totals which were 39 sales for $10.1 million. However, we know that the first 2 or 3 months of any year is not much of an indicator of just where the market is moving because these are typically the slowest months in any calendar year.

Hence, I will devote the rest of this report to the final tabulation of the residential housing markets in the Door-Kewaunee markets for 2016 compared to 2015. Final sales and median prices for 6 different areas covered by the MLS:

Baileys Harbor-Liberty Grove-Ephraim-Sister Bay-Gibraltar: Number of sales was down from 100 to 92 or -8%, while median price increased from $225,000 to $234,000 up 4%.
Jacksonport-Village and Town of Egg Harbor: Number of sales jumped from 27 to 29 a slight uptick. Median price dropped from $254,000 to 229,900 shrinking by 9%.
Sevastopol: Here we see the number of sales moving up from 20 to 24 while median price went from $238,500 to 227,500 down 5%.
City of Sturgeon Bay: Sales were about the same, down 3 from 111 in 2015 to 108 last year. Median price showed a nice increase from $127,900 to $136,250 for an increase of 7%.
Southern Door County: Number of sales up from 45 to 58 (+29%) and median price up from $137,500 to $159,700 (+16%)! Way to go Southern Door!!
Kewaunee County: Number of sales dropped from 89 to 82 while median price increased from $88,000 to $93,000. Sales down 8% while median price was up 6%.

Overall for the entire Door-Kewaunee markets, 2016 showed a decrease in the number of sales from 429 in 2015 to 411 in 2016 for a drop of 4%. Median Price increased just slightly from $149,200 to $150,000, less than 1%.

MLS statistics show that ERA Starr Realty was involved in 196 transactions for inland residential home sales, while the second leading agency checked in with 91, less than half the production of ERA Starr. We have been the leading agency since the inception of our current MLS system in 2003. Need help with either buying or selling questions? Give us a call, we are “Always There For You”!

January 2017 Newsletter

January 19, 2017 by admin

December 2016 finished with a bang! Solid increases in both the number of sales and total volume made for a solid finishing touch for the year. End of year totals also were solid and gave us two consecutive years of excellent activity here in the Door-Kewaunee County real estate markets.

For the month of December there were 96 sales for $21.3 million. That compares to last year’s total of 82 sales for $17.7 million in volume. That’s a nice increase of 17% in sales and 20% in dollar volume, leading to a substantial median price boost from $138,750 in 2015 to $156,700 in 2016.

Now for the important final stats for the year 2016:

	2015	2016	CHANGE
Number of Sales	955	1005	+5.2%
Volume (millions)	$198.5	$194.2	-2.2%
Median Price	$146,000	$145,000	-1.0%

If we look back to 2013 and 2014 we find median price for both years at $140,000, while the number of sales and volume averaged about 800 sales and $154 million in volume. Needless to say, the last two years are a vast improvement for the real estate industry here in Door and Kewaunee Counties.

Here at ERA Starr Realty we experienced a truly banner year with dramatic increases in both number of transactions and dollar volume:

Our leading transaction number increased from 332 in 2015 to 378 in 2016, an increase of 14%.
Our volume also jumped from $48.4 million to $58.5 million…..a 21% improvement.
The second leading office showed 189 transactions for $56.8 million in volume. Interestingly, their number of sales was exactly one half of our production.

These are great reasons to give ERA Starr Realty a call when seeking information about real estate conditions in the Door or Kewaunee County markets.

We are…“Always There For You!”

December 2016 Newsletter

December 19, 2016 by admin

November truly qualifies as a “banner” month for the Door County MLS system. With the previous couple of months pretty much mirroring 2015 production, this November displayed a rather dramatic up tick.

To be specific, we find that November 2016 is a record month for the MLS system, surpassing November in 2004 when 100 sales for $20.9 million in production was recorded.

November 2016: 110 sales good for $22.1 million in volume!!

That works out to a 10% increase in sales and a 6% jump in volume over 2004.

This strong November helped propel year-to-date transactions past last year’s strong showing. Here are the vitals: number of sales up from 873 last year to 907 here in 2016, a 4% increase. Volume still lags a bit behind at $172.6 million this year compared to $189.8 last year resulting in a 4.5% decrease.

The most important statistic to most buyers, sellers and readers is a median price comparison: 2015 median price was $148,000 vs. $145,000 this year for a decrease of just 2%.

Bottom line for this market can be described as “strong sales activity with stable values”.

As we complete this year and look back at 2015 and earlier, it’s safe to say the real estate market here in Door-Kewaunee shows two consecutive years of strong recovery from the meltdown back in the mid-late 2000’s. And the future looks bright.

Here at ERA Starr Realty we are proud to have played a significant role in November’s success. We totaled 53 transactions compared to the second strongest office with 21, along with $5.1 million in volume. Let us know if we can help with any of your real estate needs. We are….. “Always There For You!”

November 2016 Newsletter

November 23, 2016 by admin

October continued a somewhat moderate softening of the real estate markets in Door and Kewaunee Counties. Keeping in mind that 2015 was somewhat of a banner year in the recovery, and looking at October’s performance since 2008, it is important to note that production in 2016 was the second strongest October since 2008.

There were 90 sales this year compared to 113 last year for a decrease of 20%. Volume also moved down from $22.5 million in 2015 to $16.6 million this year. That’s a drop of 26%…obviously not good numbers, but just a single month is not enough time to get overly concerned. Remember October 2016 was the second best year since 2008.

Naturally with the above numbers we expect there to be a decrease in median price. October 2016 revealed a median price of $140,250, down from the October 2015 robust median price of $165,000. Again, over the last 9 years for October, we see median price range from a low in 2013 of $125,000 to a high last year at $165,000, so one month is not a good indicator of where the market is heading.

Year-to-date numbers carry more meaning. Here we see number of sales showing a very moderate 1.5% decrease moving down from 809 sales last year to 797 this year. Volume showed a 10% decrease while median price dropped from $146,000 to $140,500 this yea…just 4% lower.

ERA Starr Realty continues to excel in the Door-Kewaunee markets. This is especially true in the residential markets where we were involved in 169 residential inland home transactions while the second leading office completed 60. Also, with shorefront residential homes ERA Starr Realty completed 37 transactions while the second place office checked in with 20. Any questions, give us a call. We are “Always There For YOU”?

October 2016 Newsletter

October 24, 2016 by admin

The first three quarters of 2016 are officially in the books and the first thing that jumps out is how very similar they were to 2015. Certainly there are a few exceptions, but they are rather minor and are no cause for alarm or elation. Simply said, it’s nice to have some semblance of order in what has been a rather crazy decade of ups and downs in the real estate industry here in the Door-Kewaunee markets.

First for the vitals: Market activity shows 705 sales thus far in 2016 compared to 696 in 2015…almost no change; next we see median price drop 2.6% from $145,000 in 2015 to $141,750 this year…of concern, but not too much!

With the number of sales almost the same, median price is the area where most consumers (buyers and seller) focus their interest.

Home prices of inland residential properties comprise about 45 percent of all the sales of real estate in the Door-Kewaunee markets. The second most active category is vacant inland properties, so we like to concentrate on housing when evaluating the market place.

Median price for all housing in all areas for the first three quarters of 2016 checked in at $145,000. For all of 2015, median price was $149,200 so we see a decline of about 3 percent.

The Sturgeon Bay housing market bucked this trend. Here we saw a solid increase in home values. Median price jumped from $127,900 in 2015 to $142,500 thus far in 2016. That’s a solid 9% increase!

Another area where we saw considerable change was with residential waterfront properties. Here we note an increase in median price from $330,000 to $399,950. That’s a whopping 21% increase. We have to be careful because of the drastic differences that exist in market areas. For instance, the Northern Door market differs greatly from the Southern Door market and Kewaunee County shore home sales market.

Through September 30, 2016, ERA Starr Realty is proud to have participated in 272 transactions. The second leading office in the MLS system accomplished 123 deals. This continues many years of leadership in real estate sales and is part of the reason our agents can help with any and all of your real estate needs. As always, we are… “Always there for YOU”!

September 2016 Newsletter

September 22, 2016 by admin

August was a rather pedestrian month for the real estate markets in Door and Kewaunee Counties. Year to date statistics fall much in the same category and this is not all bad. The last 2-3 years have been rather healthy for our industry and we certainly do not want to get involved in run away activity and create another bubble destined to burst and result in bad times!

There were 92 sales in August for a total volume of 17.5 million dollars. August last year generated 102 sales and a volume of 18.6 million dollars. On the plus side we saw median price increase from $143,750 to $151,000.

Year to date numbers are also very close with a slight increase in the number of sales from 581 sales last year to 589 here in 2016. Volume, however, was down from $118 million last year to $107.7 million so far this year. Median price moved downward from $145,000 in 2015 to $137,000 thus far in 2016. That’s a drop of 5.5%

Overall it’s kind of nice to see the market stabilize. Looking back to 2012 we find August numbers rather steady with the number of sales ranging from 88 to 102, and volume $17.5 million to a high of $19.4 million. Median price for one month is an insignificant number, but we do know that the yearly change over the last 4 years has never been greater than 5%. The last three full years showed increases in median price of 5%, 1%, and 3%. So we like the trend!

Here at ERA Starr Realty we experienced a record setting August with 60 transactions for a total volume of $11.8 million. The second leading office registered 12 transactions for $3.1 million. WOW is all I can say and congratulations to all our agents and staff who made this happen. ERA Starr Realty is proud to offer this kind of production to our customers and clients. Need some real estate service? We are….”ALWAYS THERE FOR YOU”!

August 2016 Newsletter

August 22, 2016 by admin

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”!

July 2016 Newsletter

July 27, 2016 by admin

Thanks to a very strong June, the first six months of this year are just about identical to the first 6 months of last year, which was a very good year for the real estate markets in Door and Kewaunee counties.

June 2016 checked in with 109 sales for a total volume of $22.1 million. Median price for the month was an unusually high $198,500. June of 2015 comparatively accounted for 95 sales, $18.6 million in volume and a median price of $165,000.

Year to date for the first half of 2016 the total number of sales recorded was 384 compared to 382 in 2015. Talk about a modest increase! But remember, 2015 was a very good “continued recovery” year. Median price for those same 6 months in 2015 was $140,500 compared to the 2016 median price of $137,500. That’s a very modest decrease of 2%.

Overall we continue to be encouraged by the activity in the Door-Kewaunee markets. The sale of inland residential homes was down a bit from 163 in 2015 to 153 this year, but we did see a nice increase in median price from $141,000 last year to 145 so far this year.

For the first time since the mid 2000’s we see a definite shortage in inventory of available homes for sale. We are also seeing multiple offers on many attractively priced homes in desirable locations.

ERA Starr Realty has again excelled in leading the sales activity for the first half of 2016. Our Sturgeon Bay and Sister Bay offices have delivered 84 “listings sold” while the second leading agency checks in with 48 sales. We also lead in MLS in total volume. Our agents are ready, willing and very able to help you with any of your real estate needs. Give us a call…”We are Always there For You!”