Here in the middle of May we find ourselves smack dab in the middle of a real economic mess for the whole country…including Door and Kewaunee Counties. Although the impact for us has been much less than areas just a few miles away like Green Bay, we still feel the sting. ERA Starr and all our associates and staff wish all our customers and clients, as well as everyone worldwide, good health and prosperity.
April sales in the Multiple Listing Service (MLS) was the lowest in 6 years, down 25%, moving from 66 transactions last year to 53 here in 2020. Volume decreased from $13.6 million to $10.4 million, a decline of 31%.
Certainly we expect this slow down in market activity to continue for the immediate future. However, I am encouraged by the number of buyers actively looking at properties in both Door and Kewaunee Counties. Perhaps we need to view this 20% unemployment rate with a little less dismay. I see many “help wanted” signs in the industrial park and other commercial locations throughout Sturgeon Bay.
We recently listed a nice and clean, smaller ranch home just outside of Sturgeon Bay and wound up with 5 offers on the home with the winning offer coming in over listed price. This is not an isolated instance and continues the very strong demand factor for moderately priced homes in the area.
The supply side of the real estate markets in Door and Kewaunee Counties remains out of balance for affordable housing just as it was over the past couple of years. Sellers are happy and buyers are often disappointed in the very meager number of homes to look at.
We here at ERA Starr Realty will continue to closely monitor real estate activity in Door and Kewaunee Counties. It is our responsibility to keep our customers and clients apprised of what’s going on with the local real estate markets. We are “ALWAYS THERE FOR YOU”!
