With just two months under our belts, it is still too early to make any profound predictions on the direction of the real estate markets in Door and Kewaunee Counties. However, in view of all that is going on globally, nationally and locally, I sense some hesitancy in market activity. On top of that, it is almost impossible to maintain the pace we have experienced these last 2 years with unparalleled sales, dramatic price increases and very limited inventory.
Couple the above with historically low interest rates, record stock market and a strong desire for people to relocate to places like Door and Kewaunee Counties, and you have the makings of the explosive-type market we have experienced over the last few years.
There were 69 properties sold in February this year compared to 81 last year. That’s down a bit but volume was up from $17.9 million in 2021 to $21.4 million this year for a jump of 20%.
Median price naturally increased, showing a gain from $135,000 in 2021 to $159,750. Again, with just two months of data and our slowest months in the books, these numbers are not enough to establish a solid trend.
One thing is certain. There is an absolute shortage of lower and moderately priced housing in both counties. Inventories of homes priced under $250,000 are scant. The few that show up on the Multiple Listing Service (MLS) “for sale” shelf are almost all under contract and ready to close. Few “new listings” show up.
We here at ERA Starr Realty keep a close, daily watch on all activity with homes and other properties as they appear in MLS. It is our job to keep our customers and clients fully informed as to market conditions. We Are Always There For You!
