With the first nine months of 2023 in the books, it’s a good time to take a closer look at where home values have gone over the last couple of years. We have seen some rather dramatic price increases throughout the Door-Kewaunee housing market starting in 2020 and consistently showing double digit increases in median price each year for the last three years.
From the end of 2020 until September 30, 2023 we can track where prices have gone for the major housing areas covered in the Door County Multiple Listing Service (MLS).
Let’s start with just the Door County sector. At 2020 year-end, the median price of homes sold for the entire county was $226,500. At the end of September this year, median price escalated to $395,250. That’s a whopping 75% jump…unheard of in my 54 years in local real estate business!
Moving on to Sturgeon Bay, we find median price for city homes at the end of 2020 at $226,500. So far this year, that number is up to $306,000, or a jump of 35%. Why not as much as at the county level? Simply, we find Northern Door County experiencing tremendous demand with very limited supply.
How ‘bout Kewaunee County? Since the end of 2020 to September 30, 2023, we see median price for residential homes move from $145,200 to $212,500. That’s a substantial increase of 46%.
Here at ERA Starr Realty, we constantly monitor market fluctuations. Not only by price but by area and other criteria, depending on customer and client requests. We pride ourselves in having the latest market data on the different types of properties available for our customers and clients to help them make informative decisions. We are “Always There For You!
