Things slowed down just a bit this September compared to September 2020. Still, real estate activity for Door and Kewaunee counties was strong. All the pertinent barometers that measure activity continue to be strong.
Number of sales is always the first thing we look at when measuring real estate activity for any sector or geographic area of the marketplace. September 2021 number of sales for Door and Kewaunee Counties checked in at 138. That’s down from last year when there were 150 sales. That is an 8% decline; however, looking back 8 years, we find that 122 sales in 2017 was second in sales until this year’s 138…so nothing to be alarmed about.
Perhaps the second most important indicator of the health of real estate markets is Year-to-Date (YTD) Median Price. Here again we trailed 2020 by just 4%, moving from $177,400 last year to $170,200 this year. Certainly there is nothing to be alarmed about here. In fact, median price in 2019 was $160,000 and was never over that amount in the last eight years. Without digging deep into the archives, I would bet that median price has never exceeded $170,000 in the Door-Kewaunee markets until 2020.
Days on the Market (DOM) is another measure indicating a very robust real estate market. There are all kinds of statistics locally, statewide and nationally showing residential properties selling in less than 75 DOM. This number allows perhaps a month or more for title companies to process a closing. Many are backed up to the point where they have to delay closings beyond the scheduled closing date.
Here at ERA Starr Realty, we pride ourselves in helping buyers and sellers navigate the selling/purchase process with as little turmoil as possible. We Are Always There for You!
