Although May 2018 was slightly down from 2017, all indicators remain very positive for the real estate markets in Door and Kewaunee Counties. Year-to-date numbers continue a very strong rebound from less vibrant days of 2008 thru 2014.
Here are the most significant YTD numbers:
1) Number of Sales is up almost 19% over the last 2 years.
2) Median Price has increased just over 18% in the last 2 years.
Below are the last 5 years of median prices for January through May:
2018 $155,000
2017 $149,500
2016 $131,000
2015 $131,000
2014 $131,850
Over this same period of time we saw the number of sales grow from 258 in 2014 to 333 thus far in 2018. That’s a solid 29% increase over 5 years.
We can attribute much of this growth in the real estate market to Northern Door County where the market is especially strong. Demand is exceeding supply to the point where we are seeing many properties sell for over listed price…some substantially over listed price. Southern Door is experiencing a bit of that too, but not to the extent as in areas north of Sturgeon Bay.
Next month, in the 6 month issue of this newsletter, we will look closer at the types of properties and areas where we see different market strengths.
As always, ERA Starr Realty is focused on staying current with this rapidly changing real estate market. It is our objective to keep our clients and customers up to date with any changes in the market that will affect their real estate needs.
We are “ALWAYS THERE FOR YOU!”
