Following in the footsteps of a very strong September, we find October checking in with even more impressive numbers. The three critical indications of the health of the real estate economy are reflected in Number of Sales, Median Price and Volume.
Here are the facts. The Number of Sales for October climbed from 89 in 2014 to 109 sales this year. That’s a hefty increase of 23%. Median Price for the month checked in at $170,000 up from $150,000 last year…a 13% increase. It’s only natural that these two increases would lead to higher volume. October’s Volume increased from $15.9 million in 2014 to $23.3 million this year, hence a 40% jump.
All this helps reinforce what most experts see as a continually improving real estate market nationally, state-wide, and locally.
The year-to-date figures will attest to that. Last year through October there were 665 sales in the MLS. This year 804 sales have been recorded for a very healthy increase of 21%. Total volume is up 34% from $125.1 million in 2014 to $167.1 million this year. Median Price also improved from $140,200 in 2014 to $147,175 this year for a solid 5% gain.
I do believe we can say that a solid real estate market has returned to the Door-Kewaunee County area. However, we must not forget just how fragile it can be. It was less than 10 years ago when things went south and the market crumbled. Between bankers, mortgage entities, appraisers, the FED and Realtors, hopefully lessons have been learned so that we never have a repeat of those difficult times.
ERA Starr Realty continues to excel in their service to customers and clients with their real estate needs. We lead the MLS in total transactions with 268, while the second leading office checks in with 164. Residential inland properties and shore homes are two of our strongest categories, although we are very active with everything from commercial to vacant land to condos to farms. We do it all and we are: “Always There for You”!
