As we move through the last quarter of 2018 and continue what has been a very solid year for real estate in the Door-Kewaunee markets, I spent some time and compared today’s market to the “glory days” in the mid 2000’s.
2004, 2005, and 2006 were the years with the most activity since 2000. These 3 years reflected the greatest number of sales and the strongest median prices. Here are their vitals:
| 2004 | 2005 | 2006 | |
| No. of Sales | 1126 | 1181 | 1047 |
| Median Price | $140,000 | $145,000 | $152,000 |
| Days on Market | 295 | 297 | 314 |
With 2018 sure to check in with more than 1,000 sales, and 2016 and 2017 also boasting sales in excess of 1,000, here are the last two year’s annual numbers:
| 2016 | 2017 | |
| No. of Sales | 1008 | 1071 |
| Median Price | $145,000 | $159,900 |
| Days on Market | 380 | 312 |
This year through November 14th, the MLS has recorded 949 sales with a median price of $162,400. It is likely the final numbers for 2018 will generate the highest median price in the last 2 decades. I believe we can officially declare the “bust” market over. At its lowest point in 2009, the number of sales dipped to 596 and median price bottomed out at $130,000.
I feel this healthy real estate market will continue in the foreseeable future. Here at ERA Starr Realty, we will watch closely for any “blips” that may appear and influence the market one way or another. We believe this is an obligation we owe to all our customers and clients. After all, we are: “We Are Always There For You!”
Until next time,
Dennis Starr, Realtor Emeritus
