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

August 2021 Newsletter

August 20, 2021 by Kathy M

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”.

July 2021 Newsletter

July 21, 2021 by Kathy M

The first half of 2021 is now history for the real estate markets of Door and Kewaunee Counties, and it has left most of the very experienced and knowledgeable real estate professionals not only in our market area but statewide and nationwide scratching their heads. This includes me and my 52 years as a full-time area Realtor!

The first six months of 2021 compared to 2020 says it all:

663 sales in 2021 compared to last year’s 378 is a 75% increase!
Sales volume of $168.0 million vs. $82.5 million is more than double!

These 2 indicators may well reflect the turnaround in the market that likely is unprecedented in several decades. I’m not sure, but these 2 indicators plus the dramatic conditions created by a demand market that far surpasses supply have created a buying frenzy for residential real estate that is characterized by:

Tremendous buying pressure on most all residential homes and condos.
Homes selling for full list price and in many cases over list price by thousands.
Multiple offers on many homes.

For Door and Kewaunee Counties, all this resulted in home prices jumping from a median value in 2020 of $190,000 to $250,000 in 2021. That’s an unheard of increase of 32% in just one year.

Next month we will break down this increase as it pertains to the different areas of the two-county area. As we know, values in Northern Door County are much higher than home prices as we move south into Kewaunee County.

All this makes it much more important to seek out a professional with access to the latest market information when addressing your real estate needs. Here at ERA Starr Realty, we make it a point to keep current with market conditions so we can provide meaningful information to our customers and clients.

At ERA Starr Realty, we are always there for you!

June 2021 Newsletter

June 17, 2021 by Kathy M

“The Beat Goes On” defines the real estate markets in Door and Kewaunee Counties here in 2021. My apologies to Cher, but I am running out of descriptive ways to depict real estate in times like these. I’ve spent 50+ years in the Door-Kewaunee County real estate business through really good times and really bad times. The last 10 years display just how volatile this market has been.

Median price for inland residential homes is a measure most indicative of the strength of any real estate market. January – May is a 5 month term that tells us a lot. Here are the five month median price values for the 10 years from 2012 thru 2021:

2012 $122,750
2013 $136,000
2014 $131,850
2015 $135,000
2016 $137,000
2017 $156,900
2018 $191,000
2019 $165,950
2020 $205,000
2021 $240,000

Ten years is used to give us a quick glance of values as we were coming out of a depressed housing period following the collapse of the real estate market in 2008. This contrasts the exceptionally strong housing market of today where the powers of supply and demand are far out of whack: tremendous demand and a very limited supply.

Over these ten years we see median price increase just over 100%. Just in the last 2 years values have increased 17%. We also see a very stable market in the 4 years running from 2013 to 2016.

Next month we will break down the current values with attention given to the different areas in the Door-Kewaunee County residential housing markets.

Residential inland housing remains the most active area of real estate with commercial, vacant land, residential waterfront and condominium sales comprising most other sales.

Here at ERA Starr Realty we continue to be the most active agency in the Multiple Listing Service (MLS) with more transactions than any other agency. Our agents and staff strive to provide the very best for our customers and clients. We are “ALWAYS THERE FOR YOU”.

March 2021 Newsletter

March 23, 2021 by Kathy M

January and February typically give little indication of just what is in store for the real estate markets in Door and Kewaunee Counties. Not so here in 2021. The number of sales, volume and median price clearly show that the very strong markets of the last two years continue despite the slow down experienced during the first six months of 2020 when Covid first raised its ugly head.

The numbers don’t lie. Total sales for February increased from 52 last year to 80 in 2021. That’s a powerful jump of 54%. Total volume for those 80 sales amounted to $17.5 million compared to $10.6 million in 2020…up 65%.

As we move into March, the buying pressure continues for all types of property with the exception of commercial offerings. That pressure is especially strong for housing. From high-end to modestly priced homes, the market is heavy demand while supply is woefully low. This continues the trend we witnessed starting the last half of 2020.

Multiple offers on homes are more the usual than the exception. Selling prices well over listed price have become common. Cash offers abound. Buyers are making their offers as attractive as they can. Cash is always king while buyers often will eliminate contingencies such as property inspections to make their offer as attractive to sellers as possible.

Out-of-town buyers often submit offers based on a video tour of the property. Buyers may make an offer where they will enhance their offering price a certain amount if competing offers are submitted by other buyers. A hot market like we are experiencing will bring out all kinds of imaginative ideas where it is more important than ever to have a knowledgeable professional on your side whether listing or buying.

Here at ERA Starr Realty we are very fortunate to have an exceptional staff of smart, experienced agents very willing and able to assist in any and all of your real estate needs. We are “Always There For You”!

A Great Start to 2021!

February 22, 2021 by Kathy M

2021 is off to a great start for the real estate industry in Door and Kewaunee Counties. We see a continuation of the major spurt that started the second half of 2020. Sad to say but we appear to have adjusted to living with the pandemic and making the changes in our lives that allows us to make cautious real estate decisions.

January 2021 is the best January we have experienced in at least 8 years. Needless to say, January is never a concrete indication of just how the market will react for any year, but it is encouraging.

Total number of sales in the Multiple Listing Service (MLS) for January was 86. That compares to 60 in 2020 and a previous high over the last 8 years of 62. That’s a very healthy increase of 43% over last year. Total volume for those 86 sales was $16.7 million. 2020 volume was $12.6 million, so we show an increase of 33% in dollars. The highest January volume in the last 8 years was $13.3 million back in 2018.

Median price for the month of January is never a great indicator of just how healthy the real estate market is. There typically are few high-end sales during the first few months of any year. These sales usually take place in the spring through late fall, so we will see median price elevate as we move through the year. Over the last 8 years median price for the month of January has fluctuated from a low of $129,000 to a high of $163,250 in 2020. January of 2021 checks in at $151,250, the third highest in those 8 years.

All indications point to another banner year for real estate in Door and Kewaunee Counties. Interest rates remain very low, buyers have money in their pocket and banks are anxious to write mortgages. The only negative for some areas like Sturgeon Bay is a very real shortage of homes for sale.

Buyers need to be alert for properties coming on the market and here is where ERA Starr Realty excels! We have listed and sold more properties than any other agency in the two county area over the last 10+ years. Call an ERA Starr Realty agent if buying or selling… “We are Always There for You!”

2020 – A Year In Review

January 22, 2021 by Kathy M

Let’s close the door on 2020 and lock it. The pandemic has overshadowed what is likely the most successful year in real estate for Door and Kewaunee Counties. Why? We have discussed this at length in previous newsletters but to recap: historic low interest rates; pandemic driving city dwellers to more tranquil pastures in less populated areas; and ability for many to do their jobs from homes, along with many other factors.

Just how strong was the real estate market for Door and Kewaunee Counties?

Compared to 2019, which was a very good year, total sales jumped 19%
Volume of those sales increased 33%
Median price increased from $165,000 to $180,000 – up 9%

All types of residential homes and other properties increased in median price as follows:

Residential inland homes up 19% to a high of $226,500 from $190,000 in 2019
Sturgeon Bay homes jumped from $158,000 to $182,000 – up 15%
Residential shore homes up 24% from $410,000 to $510,000
Hotel condominiums up 21% to $83,000
Residential condominiums increased to $299,900 – up 7%
Vacant land values moved up from $69,000 to $83,500 – up 21%

It should be noted that Northern Door County experienced the strongest increase in number of sales and median values. This market was truly “red hot” and was blessed with ample inventory while Sturgeon Bay and south struggled with inventory…simply more buyers than sellers. Classic supply and demand problems.

ERA Starr Realty, north and south, is happy to report we again led the MLS in properties listed and sold with a total of 376 transactions. This has been the case going back many years and exemplifies our dedication to our buyers and sellers. As always, we are “Always There For You”.

December 2020 Newsletter

December 16, 2020 by Kathy M

November is typically the month when things begin to slow down for real estate activity in the Door-Kewaunee real estate markets. Guess what? November 2020 turned out to NOT be a typical month, much like so many other things going on in this country this year.

The Multiple Listing Service (MLS) showed 135 sales for November. The previous three years recorded 86, 85 and 87 sales in what were very good months in very good years. This 57% increase in sales over those years has to be attributed to something out of the ordinary.

First we have to look at interest rates – never lower in my 51 years in the business! Second, we have to consider the virus and many buyers having the flexibility to work from home. Coupled with the appeal of Door and Kewaunee Counties to city dwellers who feel cooped up in their urban homes and apartments, we see a developing rush from the big city to attractive, low-density locations for primary and secondary homes.

Certainly other factors are involved such as an economy that has remained strong for many high earning and wealthy families. With a strong stock market, there seems to be little problem for buyers to qualify for low-rate mortgages. Cash buyers are also very evident in this market.

This strong activity has pushed the median sales price of our two-county market to $180,000 through the first 11 months of 2020. Last year that number was $160,000, or 13% lower. These numbers apply to all type of real estate properties including commercial, vacant land, condominiums as well as residential homes, with residential providing the bulk of the increased values.

Here at ERA Starr Realty we strive to keep our customers and clients up to date on the markets in Door and Kewaunee Counties. We are Always There for You!

We wish you a very Happy Holiday Season and look forward to serving your real estate needs in 2021!

November 2020 Real Estate Newsletter

November 16, 2020 by Kathy M

The fourth quarter of 2020 is off to a rousing start! With 158 sales for a total volume of $51 million and a median price of $229,000, October may well have been the best single month in recent Multiple Listing Service (MLS) history. Certainly it was since the market collapsed in 2008.

By comparison, October 2019 showed 101 sales for volume of $24.2 million and a median price of $167,500. That’s a 56% increase in number of sales, a 111% jump in volume and a leap in median price of 37%. Needless to say, those numbers cannot sustain for a whole year. However, it does reflect on just how hot the Door-Kewaunee markets are.

As stated in last month’s newsletter, Northern Door County is responsible for much of the real estate activity, while the Sturgeon Bay area market is somewhat less active. Kewaunee County also has shown solid gains.

In this climate, we see the typical market forces at work. Demand far exceeds supply, increasing selling prices. Interest rates are at historic lows, pushing buyers into the market. And then there is the pandemic. After the initial onset back in January-February, we had a very soft market which resulted in pent up demand. On top of that, we found many city dwellers looking for second homes as a place to “hole up”. In addition, many families found that they could work virtually from a new home located in a very desirable, less dense environment. Door and Kewaunee Counties filled the bill for many home seekers.

Things can change rapidly in the real estate world. Here at ERA Starr Realty, we follow these changes very closely in order to keep our customers and clients up to speed on the latest developments. We are “Always There For You!”

Wishing you a Happy, Healthy Thanksgiving from all of us here at ERA Starr Realty!

October 2020 Newsletter

October 20, 2020 by Kathy M

September finishes off the third quarter of perhaps the most unusual year in real estate in my 51 years of experience. Certainly, the pandemic is the primary factor in defining this market, but many other significant situations exist that have driven the current market.

We are currently dealing with the strongest housing market in recent memory. Interest rates are at historic lows. Demand is so strong that homes selling for over listed price have become more the norm than the exception.

All this leads to a housing market where demand far exceeds supply which eventually leads to higher housing prices. This is evidenced by the following summary of housing activity in Door and Kewaunee Counties (statistics apply only to inland residential home sales):

Area	2019 Median Price	2020 Median Price	Change
Northern Door	$265,000	$356,250	+34%
Southern Door	$169,000	$189,000	+12%
Kewaunee Co.	$117,750	$140,000	+19%
Combined Areas	$180,000	$219,000	+22%

As to the number of sales for each area, we see that Northern Door jumped from 85 sales to 100; Southern Door moved down from 142 sales in 2019 to 125 this year; Kewaunee County stayed almost the same at 46 and 47 sales.

Southern Door, which includes Sevastopol south to the county line, showed fewer sales only because of a rather drastic shortage of available homes for sale. Northern Door was blessed with a strong supply of available inventory. Here at ERA Starr Realty, we are onboard with all the information needed to help our customers and clients solve their real estate needs. We are “Always There For You.”

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