January 2018 Newsletter
2017 proved to be a continuation of a very strong rebound of the real estate markets in Door and Kewaunee Counties. Strong increases in the number of properties sold, total volume for those sales and median price highlighted a very solid performance for all sectors of the market.
Here are the basics:
Category 2016 2017 % of Change
No. of Properties Sold 1008 1071 +6%
Total Volume (millions) $194.4 $232.0 +19%
Median Price $159,500 $145,000 +10%
To put this in perspective, we can look back to 2013 and note a consistent overall improvement in virtually all the major measures of real estate activity over these last 5 years.
Needless to say, different sectors of the market experienced different rates of growth. In 2017 this is especially true for residential waterfront home sales. We find a huge uptick in values in the overall category plus major differences when looking at the values in Northern Door vs. Southern Door.
Although the number of sales was relatively stable, median price increased for shore homes north of Sturgeon Bay by 35% rising from $452,500 to $610,000. South of Sturgeon Bay we saw median price move up 14% from $283,500 to $324,250. Washington Island and the City of Sturgeon Bay are not included in the calculations.
In Kewaunee County there were just 3 waterfront homes sold in 2016 and 6 in 2017 so there is not enough data to draw any meaningful conclusions.
ERA Starr Realty feels it is important to be informed on all aspects of the real estate market in order to provide the best service possible to our customers and clients. We Are…..”Always There For You”
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!
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!”
January – April Newsletter
Now that we have two of our slowest months out of the way (January and February) and two of our good months in tow, we can begin to make some sense out of the direction the real state market is heading for 2017.
In two simple words, the market LOOKS GOOD!
Stable is another description that fits. With 212 sales through the first 4 months of 2016 and 216 so far this year, these are good numbers for both years and substantially better than previous years.
Two areas where stable is not the case, and excellent takes over, are Median Price and Volume. Here we show substantial increases. Median price showed a 16% increase from $122,750 in 2016 to $142,500 this year. Naturally, volume would also show a solid increase, moving from $37.4 million last year to $46.0 million this year. That’s a 23% increase.
In looking over individual agency production, we find an explanation for the rather substantial increases in dollar volume and median price: Northern Door agencies showed increased production almost across the board of 2 to 4 times their production in 2016 for the same four month period in 2017.
Last year Northern Door was “slow” for the first part of the year while Southern Door was strong. This year, most Southern Door agencies showed rather dramatic decreases in production for the January through April time period.
We know that Northern Door commands substantially higher prices than Southern Door, thus the 16% and 23% increase in median price and volume.
Here at ERA Starr Realty, we feel it is important to know and understand why the real estate market reacts the way it does. This way we can relate to our customers and clients the current status of affairs regarding their real estate interests. Call us to get the latest information on Door and Kewaunee County real estate activity. We are… “Always There For You!”
p.s. ERA Starr, Sturgeon Bay showed only a 2% decrease in volume, while all the other major Southern Door offices showed decreases of 62 to 80% for January through April.
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”!
January 2017 Newsletter
December 2016 finished with a bang! Solid increases in both the number of sales and total volume made for a solid finishing touch for the year. End of year totals also were solid and gave us two consecutive years of excellent activity here in the Door-Kewaunee County real estate markets.
For the month of December there were 96 sales for $21.3 million. That compares to last year’s total of 82 sales for $17.7 million in volume. That’s a nice increase of 17% in sales and 20% in dollar volume, leading to a substantial median price boost from $138,750 in 2015 to $156,700 in 2016.
Now for the important final stats for the year 2016:
| 2015 | 2016 | CHANGE | |
| Number of Sales | 955 | 1005 | +5.2% |
| Volume (millions) | $198.5 | $194.2 | -2.2% |
| Median Price | $146,000 | $145,000 | -1.0% |
If we look back to 2013 and 2014 we find median price for both years at $140,000, while the number of sales and volume averaged about 800 sales and $154 million in volume. Needless to say, the last two years are a vast improvement for the real estate industry here in Door and Kewaunee Counties.
Here at ERA Starr Realty we experienced a truly banner year with dramatic increases in both number of transactions and dollar volume:
- Our leading transaction number increased from 332 in 2015 to 378 in 2016, an increase of 14%.
- Our volume also jumped from $48.4 million to $58.5 million…..a 21% improvement.
- The second leading office showed 189 transactions for $56.8 million in volume. Interestingly, their number of sales was exactly one half of our production.
These are great reasons to give ERA Starr Realty a call when seeking information about real estate conditions in the Door or Kewaunee County markets.
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!”
