The 2021 Northern Door County Real Estate Market was more fast and furious than 2020, and often times aggressive in the price buyers were willing to pay for a property. Fewer listings for sale, less days on the market, and higher sale prices in just about every property category were the result that seems to starting off 2022. Read more about the different price categories and how they may apply to your Door County property.
Market Trends Year Ended 12/31/2021 Residential Waterfront Homes
In each of the charts below you will see a comparison of year end 2020 as compared to year end 2021 for the Northern Door County Rea Estate Market.
In this Residential Waterfront chart you will note there were fewer sales, a result of fewer homes being offered for sale, the average sale price and days on market decreased pretty substantially, and there were 50% fewer homes for sale 12/31/2020 versus 12/31/2021.
Waterfront Residential Waterfront Residential
Average sale price $ 833,107 Average sale price $1,211,720
Average days on market 232 days Average days on market 159 days
Total listings sold 67 Total listings sold 60
Current homes on market 22 Current homes on market 11
Inland Residential Homes Market Trends year ended 12/31/2021
Inland homes saw an increase in the price sellers received for their property, and an increase in the total number of listings sold. The days on market decreased, and there are fewer homes for sale on 12/31/2021 than there were 12/31/2020.
Inland Residential Inland Residential
Average sale price $384,263 Average sale price $463,997
Average days on market 190 Average days on market 102
Total listings sold 190 Total listings sold 208
Current homes on market 75 Current homes on market 43
Waterfront Land Sales – Market Trends Year End 12/31/2021
Waterfront land sales also saw an increase in the sale price sellers received, along with a few more sales. There are fewer listings on the market, and surprisingly the average days on market increased in this category. Still, a strong market with fewer options for buyers and sellers receiving more for their property.
Waterfront Land Waterfront Land
Average sale price $317,906 Average sale price $376,145
Average days on market 302 Average days on market 432
Total listings sold 17 Total listings sold 20
Current listings on market 30 Current listings on market 23
Inland Home Site and Lot Sales – Market Trends 12/31/2021
Home sites saw a dramatic increase in sales, and a like decrease in the number of listings available for sale. Days on market went down, and the average sale price decreased slightly.
Inland Land Inland Land
Average sale price $ 80,319 Average sale price $78,269
Average days on market 527 Average days on market 441
Total listings sold 217 Total listings sold 354
Current listings on market 292 Current listings on market 127
Year End Market Trends – Residential Condominium Year Ended 12/31/2021
This set of statistics, for residential condominium homes is a bit misleading, in my professional opinion. The average sale price definitely increased, and I saw many sales over the listing price. The total number sold is lower than the prior year and I see that as a result of fewer condominium homes coming to market through the year. The increase in listings was greater as of 12/31/2021 and, again in my opinion and review of the market, that is a result of many “new to-be-built” options being brought to market.
Residential Condo Residential Condo
Average sale price $ 334,743 Average sale price $408,889
Average days on market 223 Average days on market 194
Total number sold 136 Total number sold 124
Total number condos listed 67 Total number condos listed 90
Hotel Condominium – Year End Market Trends Year Ended 12/31/2020
Big increases in the average sale price and the total listings sold made for a very good year in the hotel condominium market. The average days on market decreased substantially too.
Hotel Condominium Hotel Condominium
Average sale price $ 106,393 Average sale price $150,724
Average days on market 232 Average days on market 94
Total listings sold 65 Total listings sold 91
Total hotel condos on market 24 Total hotel condos on market 13
Recreational Condominium Market Trends Year Ended 12/31/2021
Heritage Lake is a recreational condominium, and the only one in Northern Door County. People have always found Heritage Lake to be a great entry into the Door County home experience, and that continued to a new level in 2021 with a dramatic increase in the average sale price and decrease in the days on market.
Recreational Condominium Recreational Condominium
Average sale price $ 110,825 Average sale price $136,238
Average days on market 106 Average days on market 55
Total units sold 24 Total units sold 14
Total units currently on market 0 Total unit currently on market 3
Of the three units currently on the market 12/31/2021, two of them were under contract and headed to closing.
A Note About Days on Market
Generally properties were under contract with a few days and at the most two weeks. The Days on Market as shown in the charts above appear longer because our Multiple Listing Service does not feed out the under contract and pending sales, so the properties will remain showing as “active” until they are sold and marked so.
As of 12/31/2021 in the Northern Door County market there were 109 listings under contract or pending.
This representation was prepared by Lisa Bieri, Shorewest Realtors from the MLS statistics on 12/31/2021 and is based on data supplied by the Door County Board of REALTORS Multiple Listing Service. Neither the Board nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. All REALTOR member agencies report all their sales to the MLS unless directed otherwise by a seller. Therefore, there may be some sales not included in these statistics. Private sales (those with no REALTOR involvement) are not included in these statistics.