With January and February out of the way, these next few months should give us some indication as to what direction the real estate markets of Door and Kewaunee will take.
However, there are a few “bugs” in the system that may or may not greatly affect which direction the markets move. Namely, the coronavirus and the impact of the radical movements we are seeing in the stock market.
The number of sales for February moved down slightly from 51 to 49 in February, while the year to date median price took a nice jump, increasing nicely from $148,200 last year to $166,500 here in 2020.
Again, there are not nearly enough sales to make any overall prediction as to the direction of the markets; but through the first 2 months of 2020 we appear to be headed toward another very good year for the real estate markets in Door and Kewaunee Counties.
As of today, we continue to see a real shortage of low to moderately priced homes available throughout the two-county area. We see immediate and strong activity on any new listings offered through the MLS, often followed by many showings and multiple offers. Offers over listed price are not uncommon.
Waterfront Residential Homes Sold: In 2019 we saw the median price rise over $400,000 for the first time, moving from $393,500 to $410,000! That’s a 4% increase and continues the upward trend for this type property. Nothing drastic but steady increases over the last few years. The number of sales has also been relatively steady ranging from 101 last year to a high of 112 in 2016.
Your next newsletter will summarize March and April and should give us a strong indication just where the markets are heading for the remainder of 2020. Here at ERA Starr Realty we will be watching closely to ensure we have the latest market conditions for our customers and clients. We are “ALWAYS THERE FOR YOU”!
