Door County Market Report January, 2023
It's starting to look like a typical Door County winter, with snow on the ground and ice on the Bay. January 2023 meant a new calendar year for all of us, but those of us involved in the Door County real estate industry don't anticipate any immediate drastic changes in the Door County real estate market as of January 2023.
Lack of inventory and affordability continue to be issues that are greatly impacting the entire Door Peninsula and its local real estate market. Right now, as of this writing, there are some listings north of Sturgeon Bay that priced under $300,000 that are still available, which has been extremely rare over the past 24 months (please contact me for more details). People cite interest rates as issues, but you can still pick up some very good rates at our local banks (I'm dating myself, but I paid much more in interest for my first mortgage than people are paying right now).
Statistically, February has been the month that business typically begins to pick up after the holiday lag in Door County (May through early November are the "crush" months), but the problem remains that there are multiple buyers for every property priced under $500,000, so multiple Offers may continue to be a "thing" for good inventory in 2023.
WISH WE HAD ONE OF THESE AT THE OFFICE!
A reminder that I am an Accredited Buyer Representative (ABR) and can set you up for an active search at any time. Or, use our website--setting up a search has truly never been easier. Visit our site at moredoorcounty.com and choose your areas (please choose "Door County" first and foremost), and then choose your towns and villages that are of interest. Pick from houses, condominiums, land, businesses and multi-family listings. Then, choose price, number of bedrooms, bathrooms, etc.--anything that will help send you the listings that you want automatically. You can even choose how often your listing updates are sent.
Alternatively, are you thinking about selling a Door County property? If you are interested in selling in 2023, please contact me for a detailed discussion and analysis of what your current Door County property can sell for in the current Door County real estate market.
Allow me to be your guide for the Door County real estate market. For more information on current market listings, as well as current market conditions, please contact me today.
Door County Market Report January, 2023