With the Holiday Season upon us we find buyers and sellers generally much more interested in shopping for gifts in stores and online than listing or buying real estate. Certainly this is the norm for November and December where we historically experience a rather sharp decline in real estate activity.
However, this does not mean we close our doors. The Multiple Listing Service (MLS) recorded 86 sales in November of this year with a sales volume of $22.2 million dollars. Nothing to sneeze at! Last year November recorded 85 sales for $19.6 million. This results in a 13% increase in volume with the number of sales remaining basically the same.
All this indicates a very stable market in general, which is certainly good news as we proceed toward our fourth consecutive year of strong real estate activity in Door and Kewaunee Counties.
As always, consecutive years of strong activity lead to concerns about available inventory. As inventory decreases, prices rise and typically builders cannot keep up with the demand for new homes. Unless there are some very unusual circumstances, this will inevitability lead to rising prices.
The most recent available price information from the Wisconsin Realtors Association notes that through September, the median price of homes in Northeast Wisconsin rose 8.2% compared to 2018. This was accompanied by a 6.8% decrease in total listings.
In 2016 median price for our MLS through November was $144,700. Here in 2019 we find our median price at $161,000 or an increase of 11%. Over three years that increase is reasonable and trending in a positive direction.
With 3 managing brokers offering over 100 years of experience in the Door and Kewaunee County markets, plus 22 exceptional agents and 2 full time staff, ERA Starr Realty offers a totally satisfying buying or selling experience. We are “Always there For You”!
Wishing you and your family a Happy Holiday Season and a Happy, Healthy and Prosperous 2020!