November is typically a rather unusual month in the real estate business here in Door and Kewaunee Counties. It can be the start of the really slow season or a rather robust finish to a strong fall selling season.
Last year was the strongest November in nine years. This year we experienced the worst November since 2008. An anomaly I expect as there has been rather good activity in the first couple weeks of December.
Now for the cold hard facts: Number of sales dropped from 86 in 2013 to just 44 this year, while volume decreased from $16.9 million last year to just $11.5 million. That’s almost a 50% drop in number of sales and over 30% decrease in volume.
However, there is some positive news for the month. Median price showed a nice solid increase of 7%, moving from $168,350 in 2013 to $180,000 this year.
Next month we get the opportunity to view all of 2014 and how it compares to previous years. Since 2008/2009, when we were at the depths of the real estate recession here in Door/Kewaunee Counties, there has been steady improvement in the real estate market.
I expect 2014 will be steady at least. Indications are that median price will be up slightly while the number of sales will be down slightly. Sometimes steady is good!
ERA Starr Realty is here to serve you. Listing, buying, or just a free market analysis, we can help. Give one of our experienced associates a call. ERA Starr Realty…..“Always There For You!”
