February, predictable, continues what is always a slow start to the real estate activity in the Door-Kewaunee markets. There is little information to help forecast just where sales and prices are heading as we get into the stronger listing and selling months beginning in March.
However, we do see that January and February’s cumulative sales generally mirror where sales have been over the last several years. According to the Door County Multiple Listing Service (MLS), there were 48 sales in February for $9.2 million in volume. This is slightly above last year’s activity.
Year to date median price checked in at $149,200 compared to $181,000 last year. This large discrepancy is the result of a few very large sales last year during the months of January and February. The two years prior to 2018 showed median prices of $154,500 and $144,500 with the $154,500 being the highest in the last 6 years, excepting 2018.
Residential shore home sales for 2018 continued what is now 4 consecutive years with over 100 properties sold. Here are the vitals:
Year | No. of Homes Sold | Median Price |
2015 |
106 |
$330,000 |
2016 |
112 |
$394,950 |
2017 |
111 |
$384,000 |
2018 |
104 |
$393,500 |
In breaking down the median prices depicted above, we find a great difference in values and sales activity for properties located in different areas. For example:
- Shore homes sold north of Sturgeon Bay had a median price of $600,000 for 59 sales.
- Sturgeon Bay and Southern Door County median price dropped to $285,000, while Kewaunee County had just 3 sales with a median price of $335,000.
Information like this is valuable for customers and clients looking to purchase or market a shore property. Here at ERA Starr Realty, we realize that in order to maximize our service to buyers and sellers, we must do a very careful market analysis in order to best analyze the true value of any property. Please give one of our qualified sales associates a call. We are “ALWAYS THERE FOR YOU”!
P.S. My next newsletter will cover market activity for March and April.