There’s not much change in the first three quarter numbers for 2014 when compared to 2013 and 2012. We seem to be on a fairly even road regarding sales pace with very moderate increases in median price.
Through the first three quarters of 2014 the Door County MLS showed 575 sales compared to 579 in 2012 and 591 last year.
Median price for the MLS has increased each of the last three years: $129,900 in 2012, $137,500 last year and $140,000 this year. That’s an 8% increase over the last 2.5 years……certainly moving in the right direction.
I feel part of the reason for the slight slow down in sales pace and increase in median price can be attributed to a cleaning out of many distressed properties. The Door County real estate agency that specialized in these type properties has shown a marked decrease in number of transactions in which they have been involved.
For this year, we find that the third quarter was a kind of “good news, bad news” story. While median price for this period showed a rather robust 15% increase from $141,250 to $163,000, the number of sales dropped by almost the same percentage: 268 in 2013 vs. 224 this year.
Needless to say, the economy is still somewhat unsettled. With the election right around the corner, perhaps we will see some improvement down the line. We have experienced great improvement from the 2007 to 2010 desperate days in real estate but work still needs to be done. Mortgage rates remain great but the job situation is still very uncertain, and qualifying for a loan is a difficult task for most home buyers.
Here at ERA Starr Realty we are proud to have helped more people with their real estate needs than any other MLS office. Actually, MLS statistics depicts ERA Starr Realty with 190 transactions compared to the second most active agency with 95 transactions….double the production for the first three quarters of 2014.
Call one of our agents! We are “Always There for You!”
Until next month,
Dennis J. Starr
Realtor Emeritus
