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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”!

February 2016 Newsletter

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Last month we reported that inland residential properties in Door and Kewaunee Counties showed an increase in median price of just 1% when comparing 2014 to 2015.  Needless to say, there are several separate markets encompassed in this report.  Following is a breakdown of this two-county analysis by area:

Baileys Harbor, Liberty Grove, Ephraim, Sister Bay, Gibraltar…. In this Northern Door area we see the number of homes sold increase from 85 in 2014 to an even 100 in 2015.  Median price decreased from $250,000 to $225,000.

Jacksonport, Village and Town of Egg Harbor….Number of homes sold up from 26 in 2014 to 27 in 2015.  Median price increased from 237,500 to $254,000.

Sevastopol….20 homes sold in 2015 compared to 16 in 2014 with median price falling from $253,500 to 238,500.

City of Sturgeon Bay…..Here we see the most dramatic changes.  Number of sales increased from 93 to 111, while median price went up from $117,900 to $127,900.

Southern Door County….With 45 sales in 2015 vs. 37 in 2014, the number of sales increased and median price was up from $135,000 to $137,500.

Kewaunee County….The number of sales advanced from 68 in 2014 to 89 in 2015.  Median Price was up moderately from $86,750 to $88,000 for the same period.

Here at ERA Starr Realty we strive to maintain a sound knowledge of the real estate markets in Door and Kewaunee Counties.  We are on top of the markets by daily monitoring exactly what is sold and listed in the different areas of the counties.  At ERA Starr Realty 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”.

2015 JANUARY THROUGH APRIL MLS REPORT

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Door County Multiple Listing System (MLS)

Rather than give a first quarter report when there is minimal activity in the Door-Kewaunee real estate market, this report includes April which always has significant real estate activity.  This gives us the opportunity to see possible trends.

The first one third of the year is very positive!  The number of sales increased from 177 in 2014 to 203 this year for a very nice 15% boost.  Median price also increased but not nearly as dramatically:  $129,900 this year compared to $124,000 last year for a solid 5% advance.

Looking back a few years we see that the 203 sales is the highest total since 2007, and the median price was highest since 2009.

2007 was the year when we first felt the impact of the real estate recession. The first one third of this year showed 251 sales and a median price of $149,000.  We can see that we are not back at those levels, but moving in that direction.

Hopefully we will see this kind of activity continue and develop a positive trend that results in a strong real estate market that continues to grow and helps this economy prosper.

Interest rates continue at low levels and inventory is adequate.  Buyer demand is good and the employment in Sturgeon Bay is strong.  Kewaunee County is still dealing with the shut down of the nuclear plant, but there is still plenty of activity.

ERA Starr Realty continues to lead the Door County MLS in number of transactions.  We show 74 total transactions while the second place agency checks in with 40.  Our market share leads the total MLS at 18.23% while second place checks in at 9.85%.

If you have any questions about buying or selling, or just general information on the market, give us a call.  We will help with information that is up to date and accurate.  At ERA Starr Realty we are….”Always There For You”!

Until next month,

Dennis J. Starr
Realtor Emeritus

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Real Estate News

Real estate sales in Door and Kewaunee Counties remain on a very steady course as we move toward the end of … [Read More...]

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Sturgeon Bay: 14 S Third Ave. Sturgeon Bay, WI 54235

Sister Bay: 2594 S Bay Shore Dr. Sister Bay, WI 54234

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