DOOR COUNTY (NBC 26) — Stepping into a new home is only getting harder for some in Door County as prices continue to rise. This year, Door County's real estate value increased to more than $13 billion up nearly 10% over 2023 according to the Wisconsin Department of Revenue.
- Wisconsin Department of Revenue Report from 2023 and 2024.
- Shorewest Realtor Erika Skogg explains why real estate value is good for those who live in the area.
- Markus Tassoul, a Broker at Action Realty describes the different factors that affect price changes.
(The following is a transcription of the full broadcast story)
"The hustle is real, as a first-time home buyer, especially today," Erika Skogg a Realtor at Shorewest said.
Door County's real estate value continues to rise.
"If you already live here and own a home here, your home is just going to grow in value," Skogg said.
She says if you're already living in Door County, the rise in real estate values is a welcome change.
"For those of us that are here it's a great thing that more and more people are coming here to invest money and buy property," said Skogg.
However, she notes it could be challenging for those looking to buy property on the peninsula.
"It just makes it a little harder when you're trying to find that first property," said Skogg.
Markus Tassoul a Broker at Action Realty says he purchased a home in Sturgeon Bay three months ago.
"Property value just in the last three years. The market has driven the prices much higher than in the past."
Tassoul's goal is to renovate the home and sell it back to a first-time buyer.
"When somebody moves in here. Everything's done. Everything's clean. I feel like my reputation's on the line so I wanna give somebody a nice good starter home" Tassoul said.
He says that if you're looking to buy a property be aware of the different factors that affect price changes.
"They can be mortgage rates, what's going on in the world politically. There's a lot of factors that make Door County a very desirable area our tourism kinda drives the price up unfortunately for our local people," Tassoul said.
Action Realty and Shorewest both say that those looking to buy a home for the first time should do their homework, make sure to get pre-approved, and talk to a real estate agent.
