August is gone and fall is in the air. September ushers in a change of season many prefer. Also, it usually continues to reflect what has been going on in the real estate market over the spring and summer. Happy to say real estate activity in Door and Kewaunee Counties appears to be stable at a very high level.
Strong sales are evidenced by the 149 sales for the month of August. This number ties last year for the highest number in the last eight years. Volume of $180 million is down slightly from the $189.9 million recorded last year.
Year-to-date median price continues at record levels. At $165,250 this year thru August, we are seeing numbers far and above previous years. All numbers discussed thus far are for all property types, i.e., residential, commercial, vacant land, condominiums (residential and hotel) and miscellaneous categories.
As noted in previous newsletters, residential is the category that affects median price the most. It encompasses approximately 45% of all sales. Depending on which area in the Door-Kewaunee markets we are talking about, we see residential homes selling for anywhere from 40 to 60% more than last year.
Certainly each property has to be viewed independently. There are many factors that affect the value of a property. Things like location, condition, age, neighborhood, style, etc. all play a role in value.
Here at ERA Starr Realty, we are trained to examine all factors that come into play when pricing a property. We have the tools to examine recent sales as to things like selling price, days on the market, financing type, lot size and other pertinent information. At ERA Starr Realty “We Are Always There For You”.
