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December 2016 Newsletter

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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!”

November 2016 Newsletter

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October continued a somewhat moderate softening of the real estate markets in Door and Kewaunee Counties. Keeping in mind that 2015 was somewhat of a banner year in the recovery, and looking at October’s performance since 2008, it is important to note that production in 2016 was the second strongest October since 2008.

There were 90 sales this year compared to 113 last year for a decrease of 20%. Volume also moved down from $22.5 million in 2015 to $16.6 million this year. That’s a drop of 26%…obviously not good numbers, but just a single month is not enough time to get overly concerned.  Remember October 2016 was the second best year since 2008.

Naturally with the above numbers we expect there to be a decrease in median price. October 2016 revealed a median price of $140,250, down from the October 2015 robust median price of $165,000. Again, over the last 9 years for October, we see median price range from a low in 2013 of $125,000 to a high last year at $165,000, so one month is not a good indicator of where the market is heading.

Year-to-date numbers carry more meaning. Here we see number of sales showing a very moderate 1.5% decrease moving down from 809 sales last year to 797 this year. Volume showed a 10% decrease while median price dropped from $146,000 to $140,500 this yea…just 4% lower.

ERA Starr Realty continues to excel in the Door-Kewaunee markets. This is especially true in the residential markets where we were involved in 169 residential inland home transactions while the second leading office completed 60.  Also, with shorefront residential homes ERA Starr Realty completed 37 transactions while the second place office checked in with 20.  Any questions, give us a call. We are “Always There For YOU”?

September 2016 Newsletter

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August was a rather pedestrian month for the real estate markets in Door and Kewaunee Counties.  Year to date statistics fall much in the same category and this is not all bad.  The last 2-3 years have been rather healthy for our industry and we certainly do not want to get involved in run away activity and create another bubble destined to burst and result in bad times!

There were 92 sales in August for a total volume of 17.5 million dollars.  August last year generated 102 sales and a volume of 18.6 million dollars.  On the plus side we saw median price increase from $143,750 to $151,000.

Year to date numbers are also very close with a slight increase in the number of sales from 581 sales last year to 589 here in 2016.  Volume, however, was down from $118 million last year to $107.7 million so far this year.  Median price moved downward from $145,000 in 2015 to $137,000 thus far in 2016.  That’s a drop of 5.5%

Overall it’s kind of nice to see the market stabilize.  Looking back to 2012 we find August numbers rather steady with the number of sales ranging from 88 to 102, and volume $17.5 million to a high of $19.4 million.  Median price for one month is an insignificant number, but we do know that the yearly change over the last 4 years has never been greater than 5%.  The last three full years showed increases in median price of 5%, 1%, and 3%.  So we like the trend!

Here at ERA Starr Realty we experienced a record setting August with 60 transactions for a total volume of $11.8 million.  The second leading office registered 12 transactions for $3.1 million.  WOW is all I can say and congratulations to all our agents and staff who made this happen.  ERA Starr Realty is proud to offer this kind of production to our customers and clients.  Need some real estate service?  We are….”ALWAYS THERE FOR YOU”!

August 2016 Newsletter

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June was Great!  July was Very Good!  The Door County MLS system does a super job of providing information on the real estate markets in Door and Kewaunee Counties.  This gives us all the information we need to track market activity regarding sales pace and pricing.

Hence, we experienced a super June, followed by a very good July…..and the numbers do not lie!

July activity resulted in a total of 108 sales totaling $5.1 million in volume, just under June’s total of $19.6 million.  These two volume numbers are the best our markets have experienced since the hay days in the mid 2000’s.

Median price for July was down from $147,500 last month to $133,000 in July.  Much of this decrease can be attributed to an unusually high number of low priced sales of vacant lots at a development property near Sturgeon Bay.  That’s why it is important to ask “why” when we see an unusual fluctuation in market data.

Speaking of market data, let’s take a quick look at median price for residential inland homes in our various Door-Kewaunee markets.  It is important to be careful when painting with a broad brush regarding median price.  Example:  Year to date median price for residential inland homes in the MLS shows a decrease of 2% from 2015, dropping from $145,000 last year to $142,000 this year.  However, in the Sturgeon Bay market, median price increased from $135,000 to $143,000 this year….a nice 6% increase!

I like to identify 6 separate housing markets covered in the MLS.  They start at the Northern tip of Door County and extend down to Kewaunee County.  When looking for meaningful information on property values, it is important to identify the proper area so accurate results can be obtained.

Here at ERA Starr Realty, we take the time to carefully analyze all factors when working with buyers and sellers.  Real estate buying and selling is always a major decision for customers and clients, and accurate information is essential in making good decisions.  We offer our experience and expertise in helping with those decisions.  We are…”Always there For You”!

AUGUST 2015 MLS REPORT

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August continued a strong resurgence of the real estate market here in the Door-Kewaunee market area.  Although volume was down just a bit, the number of sales continued its upswing, showing good all-around activity.

Here’s the skinny for August 2015 compared to 2014.  The number of sales was up from 90 last year to 100 this year (highest since 2006), while volume declined from $19.4 million in 2014 to $18.4 million this year…a decrease of just 5%.

An increase in Median Price completes the good news for August.  Up for the fourth straight year, median price ratcheted up from $137,500 last year to $145,000 this year.  This compares to a peak year in 2006 where median price was $150,000.

We do have to be careful when discussing median price.  It’s not safe to make a blanket statement that all types of property are increasing in price.  In looking over median price for the various types of properties at the mid year point we see the following changes in median price:  Residential Inland homes dropped from $147,500 to $141,000; City of Sturgeon Bay home prices went up from $117,900 to $135,000; Residential Waterfront homes decreased in median price from $328,750 to $298,000; Residential Condos went up from $230,000 to $253,900.

Because of these variations, it is important to have a knowledgeable professional with current information at your disposal when making decisions regarding your real estate questions.  Here at ERA Starr Realty, we pride ourselves in keeping up to date on all that is going on in our market area.  We are…“Always There For You”!    

Until next month,
Dennis J. Starr
Realtor Emeritus

July 2015 Monthly MLS Report

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And you thought the weather was hot in July!   Well, the real estate market in the Door-Kewaunee area was just as hot….in fact, we have not had this kind of activity since the “glory days” of 2005 and 2006!

You have to go back to 2005 to find the kind of July sales and volume numbers we show here in 2015.  The numbers do not lie.  Here are the facts:

YEAR 2006 2015
Number of Sales 93 94
Volume $18.3 million $19.1 million
Median Price $147,900 $147,500

As impressive as these numbers are, we have to remember this is just one month. Following are the comparative numbers for Year-To-Date sales:

YEAR 2006 2015
Number of Sales 585 474
Volume $128.3 million $98.8 million
Median Price $152,500 $145,000

It appears to me we are well on the right track for a healthy recovery.

For us here at ERA Starr Realty, we are very excited that we played a large part in the July activity.  We were involved in over 20% of the sales for the month while the second most active office claimed just over 11% of the business.  We feel our constant vigilance of market factors keeps us on top of trends and allows us to better serve our customers and clients.  At ERA Starr Realty we are…“Always there for you”.

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