The first 9 months of 2019 certainly have to be described as very positive for the real estate markets in Door and Kewaunee Counties. I say markets because of the existence of at least three separate markets encompassed within the Door County MLS: Northern Door, Southern Door and Kewaunee County. All three markets are moving along well into 3 solid years of strong, real estate activity.
Highlights of the last three years, January – September activity, are as follows:
| YEAR | NO. OF
SALES |
VOLUME
(in millions) |
MEDIAN
PRICE |
| 2017 | 780 | $161.9 | $155,000 |
| 2018 | 804 | $180.1 | $159,950 |
| 2019 | 765 | $166.9 | $160,000 |
Number of sales is rather stable, moving up from 707 sales in 2016, 696 in 2015 and a low of 576 in 2014.
Median Price at $160,000 in 2019 is up 14% from 2014 when median price was $140,000. That’s a less than 3% increase per year. This illustrates a reasonable increase in property values over the last 5 years…and differentiates our markets from the very volatile markets on the coasts and other high profile locations.
Also of note, we find median price in 2005, at the peak of strong market activity in the early 2000’s, at $143,250. Subsequently, as the real estate market collapsed, median price dropped to $129,500 in 2009 and 2010.
All indications show that the market should remain strong for the foreseeable future. The main complaint we hear from all markets is a shortage of inventory (homes for sale). There simply are not enough homes for sale to satisfy the demand. This is especially true of homes priced from $125,000 to 250,000. Naturally as prices increase, demand decreases so we see the strongest demand for the lower priced homes.
ERA Starr Realty continues to lead the Door County MLS in number of sales and sales volume. Our staff of highly qualified sales associates is poised to provide exceptional knowledge of market conditions for our customers and clients. They are “Always there For You”!
