January and February typically give little indication of just what is in store for the real estate markets in Door and Kewaunee Counties. Not so here in 2021. The number of sales, volume and median price clearly show that the very strong markets of the last two years continue despite the slow down experienced during the first six months of 2020 when Covid first raised its ugly head.
The numbers don’t lie. Total sales for February increased from 52 last year to 80 in 2021. That’s a powerful jump of 54%. Total volume for those 80 sales amounted to $17.5 million compared to $10.6 million in 2020…up 65%.
As we move into March, the buying pressure continues for all types of property with the exception of commercial offerings. That pressure is especially strong for housing. From high-end to modestly priced homes, the market is heavy demand while supply is woefully low. This continues the trend we witnessed starting the last half of 2020.
Multiple offers on homes are more the usual than the exception. Selling prices well over listed price have become common. Cash offers abound. Buyers are making their offers as attractive as they can. Cash is always king while buyers often will eliminate contingencies such as property inspections to make their offer as attractive to sellers as possible.
Out-of-town buyers often submit offers based on a video tour of the property. Buyers may make an offer where they will enhance their offering price a certain amount if competing offers are submitted by other buyers. A hot market like we are experiencing will bring out all kinds of imaginative ideas where it is more important than ever to have a knowledgeable professional on your side whether listing or buying.
Here at ERA Starr Realty we are very fortunate to have an exceptional staff of smart, experienced agents very willing and able to assist in any and all of your real estate needs. We are “Always There For You”!
