March and April are typically the first two months when we can get a general feel for the real estate markets in Door and Kewaunee Counties. Listing and selling activity begins to ramp up. Late spring and fall are typically the strongest activity times for real estate sales and listings, while during November through February things tend to slow up.
During March and April here in 2023, the Multiple Listing Service (MLS) recorded 117 sales for a total sales volume of $37.4 million. Compared to 2022, this was a rather steep slowdown in just one year’s time. With 189 sales last year, we see a 38% drop. Naturally, volume was also down, falling from $56.1 million last year to $37.4 million so far in 2023. That’s a drop of 33%.
However, on the “upside”, we see that median price showed a rather dramatic increase moving from $189,000 last year to $250,000 this year, for an increase of 32%…happy sellers, sad buyers.
With all the turmoil in this country over the last several years, it is easy to understand the rather wild fluctuations in market conditions. It’s become crazy in the real estate business trying to price properties accurately. There is a serious shortage of moderately priced homes which pushes value up, while higher interest rates moderate demand and push cost up. Supply and demand at work.
Here at ERA Starr Realty, we pride ourselves in staying on top of all the factors affecting real estate values. Our agents monitor these fast-changing market conditions in order to offer the best service possible to our customers and clients. We are “Always There For You”!
