The MLS divides property types into categories.  Residential inland home sales is by far the largest category compromising about 45% of all the sales in the Door-Kewaunee area.  The second leading type of property showing up as sold is Vacant land.  It contributes 15 % of sales.

Other categories and their percent of sales include:  Residential condominiums (14%), Hotel Condominiums (5%), Residential waterfront homes (11%).  A few other types like vacant waterfront and commercial properties are also represented but comprise just a small number of overall sales.

Most state and national real estate market reports concentrate on residential property and generalize it, calling it the “housing market”.  Here in the Door-Kewaunee market place, with our abundance of shorefront properties, we differentiate between inland homes and shore homes because we find there is an entirely different buyer segment that is looking exclusively at shore homes and many are seasonal residents only.

In 2015 there were 429 inland residences reported as sold in the MLS while residential shore home sales amounted to a total of 106 purchases.  Median price for residential inland home sales checked in at $149,200 while shore homes boasted a median price of $330,000.

Now for a brief summary of the overall activity in the MLS through the first 4 months of 2016.  There were a total of 212 sales compared to 206 in 2015 while the median price dropped from $130,450 to $122,750.  More sales but lower prices!  I notice in reviewing the “solds” in the MLS that there were a lot of vacant land sales and low-cost home sales which would account for the lower median price thus far this year.  I expect the late spring and summer selling season to be strong and values to remain stable or increase slightly.  Time will tell.

ERA Starr Realty is Door County’s largest Locally Owned real estate agency in the Door-Kewaunee market. Last year, we listed and sold more properties than any other agency in the area.  We are leading again this year.  Give one of our agents a call for the latest information on market conditions……we are “Always There For You!”

After what is typically our two slowest months of the year, we are pleased to see the activity step up noticeably in March.  The Door-Kewaunee real estate markets came alive after hibernating for the last two months.

This activity is portrayed mostly by the number of sales that were transacted during the month.  We saw the largest number of sales in the past 10 years.  There were 59 sales for $8.9 million dollars recorded in the MLS system.

As great as this sounds, there is a bit of a caveat that appears when we look closer at the numbers.

First we look at median price.  For March it checked in at $87,000.  Last year it was $147,500 and in 2014 it was $155,500, a definite downtrend.  What caused this???

In reviewing the sales activity, I found most of the activity taking place was in lower priced vacant land and lower-end housing.  With some attractive financing packages available for first time buyers, this is expected.  I see no reason to be alarmed and I expect median prices to level off at or slightly above last year’s level.

Here at ERA Starr Realty we always look beyond the numbers in analyzing the real estate activity in our market area.  We feel it is our job to have a comprehensive understanding of just what is going on in the market at any given time.  Let us know if we can help with any of your real estate needs.  We are…”Always There For You!”

As usual, January and February are the least active months of the year for real estate in Door and Kewaunee Counties.  Consequently, it is difficult to make any bold statements regarding the direction of the market for the year.

Once we get March and April in the books, we can see patterns developing and the information from those 4 months are significant enough to help in making predictions for the rest of the year.

It’s good to see that other factors such as interest rates and inventory are relatively stable.  That, along with an overall mildly positive economic outlook for the country points to another good year for the real estate industry both locally and nationally.

Now for the vitals:

YEAR	2015	2016
Number of Sales	85	86
Median Price	$130,000	$115,000
Days on the Market	426	410

Certainly median price is perhaps the most important number to buyers, sellers, and other parties that follow real estate markets and we do see a 13% increase in comparing 2015 to this year.  However, with the limited data, just a few sales can skew the numbers so it’s too early to place much credence in that increase.

ERA Starr Realty again leads the production numbers thus far in 2016.  Our 21.17% market share of listings sold exceeds the second place agency’s 12.94% share.

We continue to excel because our agents provide a service level that is truly exceptional.  Give one of our agents a call.  They will answer all your questions regarding anything to do with real estate in the Door-Kewaunee markets.  ERA Starr Realty…“Always There For You!”

A very vibrant December closed out 2015 on a high note for the real estate industry in Door and Kewaunee Counties.

The vitals are:  Number of sales up 21% – Volume up 28% – Median Price up 4.2%

More specifically, we saw the number of sales increase from 784 in 2014 to 951 in 2015.  That’s the strongest number since 2007!  Following along is a rather dramatic lift in total dollar volume from $152.5 million in 2014 compared to $195.7 million last year.

Median Price is typically the number most people are interested in.  “Is my property holding, gaining, or losing value?” is the question.  Good news for most property owners as we saw median price take a 4.2% increase in 2015 vs. 2014.  The number increased from a median sale price of $140,900 to $146,850.

Median Price varied considerably depending on type and location of property.  Residential inland properties for all of Door and Kewaunee counties showed just a 1% increase while the City of Sturgeon Bay’s housing values increased 8.5%.

Residential Condominiums rose 4.4%, while residential shore home sale prices were virtually stable increasing from $328,750 to $330,000.

The variations displayed above show the importance of having a true professional to work with in helping solve your real estate needs.  Buying, selling, or just learning the true value of the property you are interested in requires an expert…..someone with access to the most current information available in establishing value.  Here at ERA Starr Realty “We Are Always There For You!”

November is a good month for a “Short and Sweet” report on the real estate activity in the Door-Kewaunee market.

With year-end, full year information available in just one month, there will be much more meaningful information available to more readily review the market. One month in a rather small market like Door-Kewaunee never supplies enough data to make any bold prediction of just where the market is or is heading.

It’s good to report that November continues a string of very strong months thus far in 2015. With 63 sales in the MLS totaling $13.1 million in volume, November 2015 exceeded the 47 sales and $12.1 million numbers for 2014.

Those 63 sales generated a median price of $166,000. The 2014 year end median price checked in at $141,600. Year-to-date median price through November 2015 is $148,000.
Thus far this year we have experienced a 4.5% increase in property values.

ERA Starr Realty continues to lead the market in number of properties sold, showing a total number of listings sold year-to-date at 150. The second leading office has recorded 94 sales. Our experienced team of professionals pride themselves in customer service and overall knowledge of market conditions. We are: “Always there for You”.

Have a joyful and meaningful Holiday Season!!!

Following in the footsteps of a very strong September, we find October checking in with even more impressive numbers.  The three critical indications of the health of the real estate economy are reflected in Number of Sales, Median Price and Volume.

Here are the facts.  The Number of Sales for October climbed from 89 in 2014 to 109 sales this year.  That’s a hefty increase of 23%.  Median Price for the month checked in at $170,000 up from $150,000 last year…a 13% increase. It’s only natural that these two increases would lead to higher volume.  October’s Volume increased from $15.9 million in 2014 to $23.3 million this year, hence a 40% jump.

All this helps reinforce what most experts see as a continually improving real estate market nationally, state-wide, and locally.

The year-to-date figures will attest to that.  Last year through October there were 665 sales in the MLS.  This year 804 sales have been recorded for a very healthy increase of 21%.  Total volume is up 34% from $125.1 million in 2014 to $167.1 million this year.  Median Price also improved from $140,200 in 2014 to $147,175 this year for a solid 5% gain.

I do believe we can say that a solid real estate market has returned to the Door-Kewaunee County area.  However, we must not forget just how fragile it can be.  It was less than 10 years ago when things went south and the market crumbled.  Between bankers, mortgage entities, appraisers, the FED and Realtors, hopefully lessons have been learned so that we never have a repeat of those difficult times.

ERA Starr Realty continues to excel in their service to customers and clients with their real estate needs.  We lead the MLS in total transactions with 268, while the second leading office checks in with 164.  Residential inland properties and shore homes are two of our strongest categories, although we are very active with everything from commercial to vacant land to condos to farms.  We do it all and we are:  “Always There for You”!

September finished off the third quarter on a very high note.  In fact, September 2015 checked in as the best September since the glory days in 2005!  With 110 properties sold worth just over $26 million, the increase from the last few years was dramatic.

Year to date, the market continues to show positive signs.  Number of sales is up from 576 in 2014 to 689 thus far this year.  That’s a hefty increase of 20%.  Median price shows a more modest advance moving from $140,000 last year to $145,000 this year for a 3.6% increase.

Residential inland home sales comprises abut 44% of the total sales in the MLS.  These sales are stand-alone homes only and do not include any residential condominiums.  Following is a three year comparison of the vitals for residential inland home sales:

Residential Inland Home Sales	2013	2014	2015
Number Sold	281	265	298
Median Price	$145,000	$143,000	$147,175
Days on the Market	276	253	234

We can see nice increases in the number sold and median price comparing 2014 to 2015.  Also, we can note that 2013 fared better than 2014 in both these measures, so it’s been a bit bumpy, but the general trend is positive with our numbers this year far exceeding the moderate decreases in 2013 vs. 2014.

ERA Starr Realty continues to excel as the top producing agency in the MLS.  Our Sturgeon Bay office participated in 240 transactions through the first three quarters of 2015 while the second leading office checked in with 133.  Third place showed 92 transactions.

We pride ourselves with exceptional service and knowledge of the market.  This business gets more complicated every year with more regulations, more paperwork, and more demands on buyers and sellers. It takes a strong knowledge of market conditions plus the technical skills to put a transaction together.  Here at ERA Starr Realty our commitment to excellence is evident…….we are “Always there for You!”