The first three quarters of 2016 are officially in the books and the first thing that jumps out is how very similar they were to 2015. Certainly there are a few exceptions, but they are rather minor and are no cause for alarm or elation. Simply said, it’s nice to have some semblance of order in what has been a rather crazy decade of ups and downs in the real estate industry here in the Door-Kewaunee markets.
First for the vitals: Market activity shows 705 sales thus far in 2016 compared to 696 in 2015…almost no change; next we see median price drop 2.6% from $145,000 in 2015 to $141,750 this year…of concern, but not too much!
With the number of sales almost the same, median price is the area where most consumers (buyers and seller) focus their interest.
Home prices of inland residential properties comprise about 45 percent of all the sales of real estate in the Door-Kewaunee markets. The second most active category is vacant inland properties, so we like to concentrate on housing when evaluating the market place.
Median price for all housing in all areas for the first three quarters of 2016 checked in at $145,000. For all of 2015, median price was $149,200 so we see a decline of about 3 percent.
The Sturgeon Bay housing market bucked this trend. Here we saw a solid increase in home values. Median price jumped from $127,900 in 2015 to $142,500 thus far in 2016. That’s a solid 9% increase!
Another area where we saw considerable change was with residential waterfront properties. Here we note an increase in median price from $330,000 to $399,950. That’s a whopping 21% increase. We have to be careful because of the drastic differences that exist in market areas. For instance, the Northern Door market differs greatly from the Southern Door market and Kewaunee County shore home sales market.
Through September 30, 2016, ERA Starr Realty is proud to have participated in 272 transactions. The second leading office in the MLS system accomplished 123 deals. This continues many years of leadership in real estate sales and is part of the reason our agents can help with any and all of your real estate needs. As always, we are… “Always there for YOU”!
