Real estate sales here in the primarily recreational/second home real estate market of Northen Door County has vastly improved since this time last year. The number of sales are up 39% which is a huge jump! It proves that buyers have confidence in the value of Door County real estate. Of course the present low asking prices are also quite an incentive to buy. When the economy took such a dramatic drop in the fall of 2008, the second home market went right with it, perhaps even more so. Here is a “snapshot” of how this real estate market responded to the economy in the total number of sales from January 1st to September 30 from 2007 through 2012:
- 1/1/2007 through 9/30/2007 371 sales
- 1/1/2008 through 9/30/2008 250 sales
- 1/1/2009 through 9/30/2009 196 sales
- 1/1/2010 through 9/30/2010 239 sales
- 1/1/2011 through 9/30/2011 226 sales
- 1/1/2012 through 9/30/2012 303 sales
You can see how this market has been effected, and how much improved it is this year.
Both home and condominium sales are doing best in price ranges under $350,000, although several higher-end properties have sold. The biggest change in the market is what the buyers are getting for their money, and they are getting a lot! Therefore, buyers are not only looking at properties to use for vacations, they are looking for primary residences to use for retirement. Door County’s year-around population is growing as buyers find out the many advantages of living here. All in all, this is the best time for purchasing Door County real estate we have seen in decades.