December 2017 Newsletter
After a very robust first 10 months of 2017, activity for November returned to a more normal pace. With 84 sales and production of $16.2 million, market activity slowed down from the rather torrid November pace of 2016 where sales numbered 111 and production recorded a record $22 million.
Average number of sales for November over the last 5 year was 78, so our 2017 production was still well above average.
Median price year to date through November is $155,475 compared to $144,700 last year. That’s a solid increase of 7.5%. Does that mean overall prices in Door-Kewaunee Counties are up for all type properties? Probably not and here’s why!
Looking at Residential Shore Home sales we find some rather dramatic numbers for the first 11 months of the year:
Median Price for shore homes in Southern Door (all waterfront homes South of Sturgeon Bay to the county line) increased from $283,500 in 2016 to $320,000 this year for an increase of 13%.
North of Sturgeon Bay (excluding Washington Island) we discover a staggering increase in price for shore homes of 38%. Median price elevated from $452,500 last year to $623,000 here in 2017.
These numbers have a lot to do with the overall median price increase of 7.5% and points out the importance of refining market data while searching for the value of any particular property.
Here at ERA Starr Realty, we specialize in digging deep into the market data in searching for realistic values for any parcel of real estate. We feel this is necessary to provide the very best service to all our customers and clients. As usual, we are “Always there for You!
November 2017 Newsletter
The real estate market for Door-Kewaunee County just seems to keep on rolling along with no sign of letting up in the near future. October activity evidences just how vibrant this market is.
There were 112 sales in October compared to 91 last year. That’s a very robust 23% increase. Coupled with an increase in volume from $16.7 million to $29.8 million in October for the last two years, we have a rather dynamic start to the fourth quarter of 2017.
The 78% volume increase for the month resulted in the strongest overall monthly volume in the last 5 years. The second highest volume total in the last 5 years was 2015 with $22.5 million……and that’s a 32% increase.
So year to date where are the hot spots? In looking over agency production, we find that offices located in Northern Door are experiencing the greatest share of overall growth. Their number of sales has increased 27% while volume jumped just over 49%.
Those increases pushed up median price from $155,000 last year YTD to $185,000 through October of this year for a hefty bounce of 19%.
The above statistics consider Northern Door as the areas north of Jacksonport and Egg Harbor.
In reviewing the YTD stats for Southern Door (Sevastopol and South) we find that activity was actually down a bit. The number of sales was down 7% from 330 to 307 while median price dropped from $155,000 last year to $145,000 so far this year, also a 7% decrease.
Kewaunee County showed an increase in sales from 79 to 84, a jump of 6% while median price had a nice increase moving from $87,500 to $102,000 resulting in a solid increase of 17%.
ERA Starr Realty continues to lead the MLS with a total of 291 transactions YTD. The second leading office checks in with 215. This means we deal with more buyers and sellers, giving us strength in the market. Put this strength to work for you. Let us…. “Always be there for YOU!”
October 2017 Newsletter
With the third quarter of 2017 in the books, it’s time to review the residential housing markets in Door and Kewaunee Counties.
In my 49 years of full time involvement in the real estate industry here in Door and Kewaunee Counties, I have been through a number of significant ups and downs in this business. I am greatly encouraged with the current climate and do not expect any slow down in the near future. With that said, let’s look at the numbers for residential inland home sales for the first three quarters of the year:
Baileys Harbor-Liberty Grove-Ephraim-Sister Bay-Gibraltar
| 2016 | 2017 | |
| Number of Homes Sold | 69 | 119 |
| Median Price | $214,900 | $244,000 |
Sevastopol-Sturgeon Bay-Southern Door
| 2016 | 2017 | |
| Number of Homes Sold | 138 | 144 |
| Median Price | $154,500 | $145,250 |
Kewaunee County
| 2016 | 2017 | |
| Number of Homes Sold | 60 | 60 |
| Median Price | $ 85,100 | $ 98,300 |
The above chart clearly depicts a very strong market in Northern Door County. The number of sales is up 73% with an accompanying increase in median price of 13%. They are certainly having a “banner year”.
In the Sturgeon Bay area we find a 6% drop in median price while the number of sales increased just over 4%. In monitoring this market, I found a real strong demand for the more “affordable housing” sector of the market, typically homes under $150,000.
Kewaunee County experienced a nice 16% increase in median price with a very stable overall market with 60 homes sold each year for the last two years.
Here at ERA Starr Realty we are pleased to again lead the MLS in number of transactions for the first three quarters of 2017 at 258 compared to the second place agency checking in with 184. If you are buying or selling we are: Always there For YOU!
Until next month,
Dennis J. Starr
Realtor Emeritus, ERA Starr Realty
August 2017 Newsletter
July continued the strong resurgence of the real estate markets since those dismal years starting back in 2008. 2017 is the third consecutive year of very impressive sales and increasing values for the Door and Kewaunee markets.
Year to date (Jan-July) vitals are very strong. The number of sales increased from 498 in 2016 to 538 this year for a nice increase of 8%. This is especially encouraging since inventory of available properties typically decreases as we move through improving economic conditions.
Everybody’s favorite real estate statistic is median price. Thus far in 2017 we have seen a very solid increase of 10% moving from $136,000 in 2016 to $154,500 this year.
Another positive sign of a good market is the decrease of “days on the market”. Here we see a rather substantial improvement. In 2016 the average time it took for a property to sell was 405 days. In 2017, year to date, that number has dropped to 325 days, down 25%. We find the demand segment of the market realizes it is a bit of a seller’s market so they must act fast if they want to secure a specific property.
We are seeing multiple offers on many properties.
So, how are things for residential waterfront properties year to date? Here’s the lowdown:
| 2017 | 2016 | % of Change | |
| Number Sold | 53 | 50 | +6% |
| Median Price | $414,200 | $394,950 | +5% |
Here at ERA Starr Realty, residential shore home sales are an important part of our overall marketing program. Of the 53 listings sold thus far this year, we were listing agency for 14 of the properties. The second most active agency listed 7 shore homes.
No matter the type property, ERA Starr Realty can break down all the information and present you with an informative analysis of activity on the property, giving you valuable data to help in your decision making. We are: “Always There For You”!
June 2017 Newsletter
With May in the books and mid-year fast approaching, it is evident that the real estate market here in Northeast Wisconsin (especially Door and Kewaunee counties) is and should continue to be very solid. All indications show positive signs for the remainder of 2017.
First, let’s take a look at median price and compare the first 5 months of the last several years:
| 2017 | $150,000 |
| 2016 | $131,000 |
| 2015 | $131,000 |
| 2014 | $131,850 |
| 2013 | $127,625 |
The collapse of the real estate market started in 2008 and “peaked” in about 2012, when median price fell to just over $120,000, so we can see that median price for the first 5 months of any year from 2008 through 2017 varied by a maximum of 25%. It is interesting to note that through most of those years, median price was rather stable in the low $130’s. This market has never fluctuated as wildly as the markets in California, East Coast, and Nevada.
The number of sales thus far in 2017 topped out at 81, which is 19% higher than 2016, but exactly the same as the previous three years. At this point in 2017, we have to label real estate activity as stable.
Thus far in 2017, ERA Starr Realty continues to lead the MLS in sales and listings sold. This has been the case virtually every year since the current MLS system format was adopted in 2003. We are proud of our success, not only during the “good times” but also when the market flounders. We are careful to make sure we have all the current sales information digested so we can keep our customers and clients fully informed on market conditions. We are “Always There For YOU!”
March 2017 Door County MLS Newsletter
February, much like January, is typically one of the slowest months of the year. Consequently it is difficult to use sales data as a predictor of future activity for our Door-Kewaunee real estate markets. This has been the case since the introduction of the current MLS program in 2003.
Regardless, let’s take a look at what February had to offer: 49 sales for a total volume of $11.5 million is the best in the last 5 years. This is a bit unusual and helps create an optimistic view for the rest of the year.
Median price for the month was a whopping $159,500 which compares to $107,000 in 2016. Again, we cannot get too excited because of the relatively small number of sales for the month. We should also note that the northern part of Door County had an unusually large number of sales on “big ticket” properties compared to most years.
Year-to-date we show 100 sales compared to 76 last year, a solid 32% increase. With the help of the big numbers in February, we also see a nice increase in the median price, moving from $144,500 last year to $154,500 thus far this year. That’s a nice increase of 7%.
Overall, despite limited data, we have to conclude that 2017 is off to a very solid start. Good news for sellers. The only negative might be a limited inventory of homes and properties available for sale. 2015 and 2016 were excellent years with the total number of sales far surpassing previous years. 2016 checked in with a total of 1006 sales, compared to 953 in 2015 and 782 in 2014.
I believe we have effectively cleaned out the “excess” inventory that resulted from the housing crises of the late 2000’s and early 2010’s.
ERA Starr Realty continues to lead the MLS in total transaction thus far in 2017. Our agents remain focused on providing the best in service to all our customers and clients. Give us a call. We are “Always there For You”!
ERA Starr Realty honors agents, staff
We’re SO proud of our friends at ERA Starr in Door County Wisconsin.
Read the article below:
ERA Starr Realty honors agents, staff
ERA Starr Realty held its 25th annual awards banquet Jan. 28, where agents and staff members, including Kathy McCaulley and Jill Harper, were celebrated for their accomplishments in the past year. Bob Gray, Laura Sutherland, Lori Raye, Gretchen Porten, Barry Sargent, Bill Becker, Lynn Mraz, Dan Lenius and Paul Dreutzer received Million Dollar production awards and Di Wagner, Jan Campbell, Bob Starr, Lois Mickelson, Dina Boettcher and Susan May received awards for production greater than $1 million.
Excelling with over $8 million in production was MarJean Gutschow, while the top producer for 2016 was Heidi Neubauer with $13.6 million. Neubauer also was honored as the 2016 Associate of the Year.
Additionally, Lifetime Achievement Honors went to Lynn Mraz and Joni Slaby for their exceptional contributions to the real estate industry. Gale Zahn also was recognized for more than 40 years in the real estate business and the award was presented by Dennis Starr, who also holds this distinction.
The company has offices in Sturgeon Bay and Sister Bay.
FEBRUARY 2017 NEWSLETTER
January 2017 got off to a good start. With 51 sales for $12 million, we exceeded last January’s totals which were 39 sales for $10.1 million. However, we know that the first 2 or 3 months of any year is not much of an indicator of just where the market is moving because these are typically the slowest months in any calendar year.
Hence, I will devote the rest of this report to the final tabulation of the residential housing markets in the Door-Kewaunee markets for 2016 compared to 2015. Final sales and median prices for 6 different areas covered by the MLS:
- Baileys Harbor-Liberty Grove-Ephraim-Sister Bay-Gibraltar: Number of sales was down from 100 to 92 or -8%, while median price increased from $225,000 to $234,000 up 4%.
- Jacksonport-Village and Town of Egg Harbor: Number of sales jumped from 27 to 29 a slight uptick. Median price dropped from $254,000 to 229,900 shrinking by 9%.
- Sevastopol: Here we see the number of sales moving up from 20 to 24 while median price went from $238,500 to 227,500 down 5%.
- City of Sturgeon Bay: Sales were about the same, down 3 from 111 in 2015 to 108 last year. Median price showed a nice increase from $127,900 to $136,250 for an increase of 7%.
- Southern Door County: Number of sales up from 45 to 58 (+29%) and median price up from $137,500 to $159,700 (+16%)! Way to go Southern Door!!
- Kewaunee County: Number of sales dropped from 89 to 82 while median price increased from $88,000 to $93,000. Sales down 8% while median price was up 6%.
Overall for the entire Door-Kewaunee markets, 2016 showed a decrease in the number of sales from 429 in 2015 to 411 in 2016 for a drop of 4%. Median Price increased just slightly from $149,200 to $150,000, less than 1%.
MLS statistics show that ERA Starr Realty was involved in 196 transactions for inland residential home sales, while the second leading agency checked in with 91, less than half the production of ERA Starr. We have been the leading agency since the inception of our current MLS system in 2003. Need help with either buying or selling questions? Give us a call, we are “Always There For You”!
December 2016 Newsletter
November truly qualifies as a “banner” month for the Door County MLS system. With the previous couple of months pretty much mirroring 2015 production, this November displayed a rather dramatic up tick.
To be specific, we find that November 2016 is a record month for the MLS system, surpassing November in 2004 when 100 sales for $20.9 million in production was recorded.
November 2016: 110 sales good for $22.1 million in volume!!
That works out to a 10% increase in sales and a 6% jump in volume over 2004.
This strong November helped propel year-to-date transactions past last year’s strong showing. Here are the vitals: number of sales up from 873 last year to 907 here in 2016, a 4% increase. Volume still lags a bit behind at $172.6 million this year compared to $189.8 last year resulting in a 4.5% decrease.
The most important statistic to most buyers, sellers and readers is a median price comparison: 2015 median price was $148,000 vs. $145,000 this year for a decrease of just 2%.
Bottom line for this market can be described as “strong sales activity with stable values”.
As we complete this year and look back at 2015 and earlier, it’s safe to say the real estate market here in Door-Kewaunee shows two consecutive years of strong recovery from the meltdown back in the mid-late 2000’s. And the future looks bright.
Here at ERA Starr Realty we are proud to have played a significant role in November’s success. We totaled 53 transactions compared to the second strongest office with 21, along with $5.1 million in volume. Let us know if we can help with any of your real estate needs. We are….. “Always There For You!”
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