No surprises through the first 2 months of 2018 for the real estate markets in Door and Kewaunee Counties. As is typical, there is just not enough activity to draw any conclusions as to where the markets are heading.
Here are the vitals for January and February of 2018:
| 2017 | 2018 | |
| Number of Sales | 100 | 95 |
| Total Volume | $23.4 million | $21.5 million |
| Median Price | $154,500 | $168,500 |
| Average Days on Market | 352 | 305 |
Things should start to heat up in March, although there is a caveat………..after 3 very strong years coming out of the “melt down” there is a definite shortage of inventory. Fewer properties on the market make it tougher for buyers to find properties that suit their needs and consequently there will be fewer sales.
On the positive side, the economy remains very strong, with banks aggressive in seeking and financing buyers. Interest rates remain low and there are all kinds of different types of programs to help buyers finance their purchases. VA, FHA, and other programs can help qualified buyers with their home buying needs.
We fully expect strong residential and vacation condominium sales this year. Here the supply is generally better and potential buyers have several alternatives as to what kind of condo they are interested in and just where they prefer. Last year was the strongest in over 10 years for residential condominium sales in the Door County MLS with 158 sales at a median price of $234,500.
ERA Starr Realty, with 28 agents and locations in Sturgeon Bay and Sister Bay, continues to lead the MLS in number of transactions. We have 3 broker-managers with over 100 years of combined experience with the Door and Kewaunee County markets. ERA Starr continues to track the local markets to provide our buyers and sellers with the very latest information about market activity. We are “Always There For YOU”!
