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January 2017 Newsletter

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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

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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!”

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

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