November is always an interesting month for real estate practitioners. Fall is one of the busiest seasons and as we move into the slowest season, we reflect back on the “good times” while contemplating just what lies ahead.
Looking back, November continued the strong rash of business that makes 2021 the strongest year in real estate since Multiple Listing Service (MLS) became fully functional in 2004. In 2004 there were approximately 1,110 properties sold in the Door/Kewaunee markets. Through the first 11.5 months of this year, 1,400+ properties have sold.
Median price in 2004 was $140,000 vs. $185,000 here in 2021. These numbers are for all type properties from vacant land to commercial.
Median price of homes escalated from $137,500 in 2004 to $270,000 here in 2021. Almost double! The number of homes sold was relatively stable with 414 sold in 2004 and 444 thus far in 2021. Also of note for residential home sales is Days on Market (DOM). Here we find that DOM dropped from 188 days in 2004 to 98 this year. About half!
Home ownership remains a strong foundation for financial stability for many families here in Door and Kewaunee Counties.
Next month we will have the full year summary of real estate activity for both Door and Kewaunee Counties. The numbers will be impressive from the southern boundary of Kewaunee County to the tip of Door County. We here at ERA Starr Realty focus on securing all vital information regarding real estate in our two-county area. We aim to keep our customers and clients fully informed. We Are Always There For You!
Wishing you and your loved ones a Merry Christmas and Happy New Year!
