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Homebuyers facing more competition

If you are looking to buy a home in Door County you might want to act fast to get the home of your dreams.   A fast and furious home sales market has local realtors scrambling to keep up with motivated buyers and a limited amount of inventory.  Lisa Bieri of Shorewest Realtors says the growth in average home sale prices has slowed a bit recently.  She has seen some potential buyers become frustrated and step out of the market because of losing out to cash buyers.

 

 

According to statistics compiled by the Door County Multi-Listing Services records, the overall growth in the last year for residential non-waterfront homes in northern Door County has been 47.91 percent.  The median sale price has increased over 15 percent from $320,000 to $370,000.  Waterfront homes have seen an increase of 53.19 percent with the median sales price increasing 21.29 percent to $700,000 in northern Door County.  Bieri says it was just two years ago when homes were on the market for typically 270 to 365 days before selling versus a matter of a few weeks now.  

 

(photo courtesy of Shorewest Realtors)

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