December real estate activity continued with the slowing pace of sales in the Door-Kewaunee County real estate markets.
Compared to December 2021, sales fell off from 136 to 78 here in December of 2022. That’s a drop off of 43%. Higher interest rates, inflation and limited homes for sale are three of the main reasons for this decrease.
Prices of property sold is another story. 2022 ended with a median price of $240,000 for the 12 months. That’s a jump of $55,250 compared to 2021 median price of $184,750, a 30% increase. Back tracking to 2014, we found median price for that year at $140,900, almost a $100,000 increase in median price. All numbers reported in this report refer to the sales of all types of properties from residential homes to vacant land, condominiums, commercial real estate, etc.
2021 was most likely the strongest year in real estate sales for Door and Kewaunee Counties. It certainly was in my 53 years as a full time Realtor. Ups and downs in real estate is a given.
Comparing total number of transactions in 2021 to 2022, we see an overall decrease from 2,984 in 2021 to 2,270 in 2022. That’s a decrease of 24%. That decrease in transactions was accompanied by a 10% drop in sales volume, dropping from $858,222,144 in 2021 to $774,966,546 in 2022. To explain why we saw a 24% decline in sales and just a 10% decline in volume…”the higher the price, the fewer sales”…an economic adage for the ages.
ERA Starr Realty is proud to report that in 2022 we again were the top producing office in the Multiple Listing Service (MLS) with 264 total transactions. That is 37 more than the second place office and repeats our performance over the past many years. With 24 highly professional agents, ERA Starr Realty emphasizes a strong knowledge of market conditions to help our agents provide the very best service to our customers and clients.
At ERA Starr Realty…We are Always There for You.
