2021 Real Estate Market – A Year In Review
December continued the very robust real estate market for the Door-Kewaunee County Multiple Listing Service (MLS) members. There is no sense of “cooling off” as we look forward to 2022. Following is a summary of the December activity with a quick rundown on values of residential properties.
There were 135 December sales registered in the MLS, up 23%, compared to 2020 with 110 sales. Median Price continued its strong growth, moving from $180,000 in 2020 to a year-end number of $185,000 in 2021.
Residential homes showed the most activity and value increases for the year. Here is a summary:
Door County residential inland sales in 2021 were actually down from 426 in 2020 to 377 in 2021, mostly because of limited inventory. Median price skyrocketed 33% from $226,500 to $300,000.
City of Sturgeon Bay experienced an increase in number of sales moving from 93 to 114. Median price jumped 23% from $182,000 to $222,500.
Kewaunee County went from 66 to 94 sales and showed an 8% increase in median price from $145,200 to $157,500.
Residential Waterfront was also strong. Number of sales was relatively the same, down just 1 from 133 sales in 2020. Median price was up 19% to $608,750.
The outlook for 2022 remains very positive. There is little indication demand has been satisfied. Interest rates, although up from historic lows, are still well below rates we are used to. Keep an eye on the Fed!! Stock market needs to be watched! Profit taking has financed many home sales in the last two years. Inventory likely will continue to be problematic.
Here at ERA Starr Realty, we keep our eyes open to identify market factors. We are “Always There For You”.