Door County Real Estate Market
Predictions for 2025
We have a break from an an election year, so it's been more "business as usual" than the latter part of 2024 was in Door County real estate listings and sales. Spring is RIGHT around the corner, and that will start the stampede of Buyers into what is an already limited market.
With this being said, we are still see prices increasing, although interest rates have dropped a bit during the past week. The Door County Board of REALTORS released its 4th quarter report for 2024 at the end of January, and what was surprising was that the NUMBER of sales (which seem to be less) was almost identical to the last quarter of 2023. As such, demand is still exceeding supply at this time.
Most notably, it is almost impossible to find housing inventory under $500,000 north of Sturgeon Bay as of this writing. We do have some new inventory coming on shortly that will satisfy this, but the demand to be searching for housing under $500,000 is steep in northern Door County, especially in Sister Bay, Ephraim, Fish Creek and Baileys Harbor. Fish Creek has had extremely limited inventory, and inventory in Ephraim has been almost non-existent. We predict Fish Creek and Ephraim real estate will remain at almost historic lows in 2025.
Another factor in the Door County housing market---the cost of vacant land. The price of vacant land has skyrocketed over the past three years, and shows no signs of abating at this time. We predict this trend will continue in 2025.
How can we help? We're here to assist in your Door County home search, every step of the way. Whether you are searching for a Fish Creek condominium, an Ephraim home for sale, Baileys Harbor waterfront or a Sister Bay getaway, we know the market. We're here to assist, and we'll provide the exacting services needed in order to find the Door County property that is right for you.
SELLERS: This creates a unique situation for the sale of your Door County property. While we saw a slow down from September through November because of the election, things picked up almost immediately in December, accounting for the fact that the year-over-year sales volume was almost unchanged. If you are thinking about selling a Door County property in 2025, please contact us. While we do have a free online Door County real estate price estimate, it takes a living, breathing, physical broker to take a physical look at your home, condominium, business or land to adjust and make sure you have the right price for your Door County property via a Comparative Market Analysis ("CMA"). We'd be happy to schedule an appointment to meet at your convenience to discuss your property's value.
We do NOT have a crystal ball, but barring unforeseen circumstances, we do think the pattern of limited inventory will be a recurring one in 2025.
Please contact me to assist with all of your Door County-related real estate needs today.
