Well, we are four months into the 2018 selling season for the Door-Kewaunee real estate markets. Typically, at this time we are able to garner enough market activity information to forecast what the remainder of the year has to offer.
With that in mind, the forecast is warm and sunny with no signs of storms on the horizon. Sales are up, interest rates are stable, the economy is excellent, and lending institutions have a wide variety of loans available…..even with $0 down.
Here are the facts comparing the first 4 months of 2018 with 2017:
| 2017 | 2018 | |
| Number of Sales | 221 | 249 |
| Total Volume | $46.6 million | $52.1 million |
| Median Price | $140,500 | $155,000 |
The number that jumps out here is the increase in median price. At 10%, this is certainly a significant gain and needs some further explanation.
I consider the Door County area of Jacksonport and Egg Harbor north a separate market area. This area completed 149 sales or 60% of all the MLS sales for 4 months. In addition, these 149 sales marked an increase of 27% for their 2017 production. That is a “hot” market. This rather dramatic increase in sales activity was accompanied by a very solid increase in median price, moving from $175,000 in 2017 to $193,500 this year.
The remainder of Door County, south of Jacksonport and Baileys Harbor, was rather stable. There was just one more sale going from 74 to 75, but a nice increase in median price rising from $146,500 to $154,500. Kewaunee County sales went from 25 to 24 with a climb in median price from $91,000 to $110,750.
With offices in Sturgeon Bay and Sister Bay, ERA Starr Realty is proud to serve all of Door and Kewaunee Counties……..and we have since 1954! We are: “ALWAYS THERE FOR YOU!”
