RCEDC HOUSING MARKET & DEVELOPMENT SNAPSHOT
"WE'RE IN FOR A FEW YEARS OF A PRETTY ROBUST REAL ESTATE MARKET"
In 2020, new residents and businesses continued to choose Racine County, taking advantage of its location in the Chicago-Milwaukee corridor. John Crimmings, General Sales Manager of First Weber Real Estate in Racine, believes outside companies are discovering the advantages of doing business here, which attracts home buyers – leading to a future of “a pretty robust real estate market.”
While more new housing development is planned, check out Racine County’s recent activity.
RACINE COUNTY SINGLE-FAMILY HOUSING TRENDS
Data provided by Metro MLS by First Weber Real Estate in Racine County
The image indicates percentage change in total unit sales for Eastern Racine County from 2019 – 2020. The chart indicates the total unit sales by municipality in Eastern Racine County from 2017 – 2020.
Unit sales by municipality for Eastern Racine County from 2017 - 2020
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| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Racine | 867 | 872 | 822 | 960 |
| Caledonia | 361 | 388 | 374 | 434 |
| Mount Pleasant | 365 | 319 | 320 | 527 |
| Sturtevant | 68 | 91 | 78 | 91 |
| Wind Point | 37 | 26 | 35 | 48 |
| NB / Elm | 15 | 8 | 6 | 8 |
The image indicates percentage change in total unit sales for Western Racine County from 2019 – 2020. The chart indicates the total unit sales by municipality in Western Racine County from 2017 – 2020.
Average unit sales by municipality for Western Racine County from 2017 - 2020
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| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Burlington | 250 | 228 | 216 | 263 |
| Waterford | 169 | 138 | 150 | 233 |
| Norway | 76 | 68 | 67 | 92 |
| Union Grove | 34 | 37 | 43 | 72 |
| Rochester | 40 | 39 | 39 | 51 |
| Dover | 43 | 31 | 30 | 49 |
| Raymond | 25 | 26 | 31 | 44 |
| Yorkville | 30 | 21 | 28 | 34 |
Data provided by Metro MLS by First Weber Real Estate in Racine County
Median Home Sale Price for Racine County
No Data Found
| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Burlington | $185,000 | $199,450 | $210,000 | $228,000 |
| Waterford | $270,500 | $296,500 | $299,000 | $319,900 |
| Norway | $272,450 | $301,250 | $330,100 | $356,500 |
| Union Grove | $195,000 | $185,000 | $228,000 | $236,000 |
| Rochester | $251,450 | $300,000 | $292,000 | $290,000 |
| Dover | $199,900 | $275,000 | $276,500 | $299,900 |
| Raymond | $337,000 | $337,500 | $321,000 | $302,500 |
| Yorkville | $350,000 | $304,900 | $349,500 | $376,500 |
| Racine | $101,500 | $117,900 | $126,250 | $139,000 |
| Caledonia | $212,000 | $229,500 | $245,000 | $259,998 |
| Mount Pleasant | $230,000 | $260,650 | $260,000 | $242,900 |
| Sturtevant | $172,500 | $227,000 | $240,500 | $194,000 |
| Wind Point | $273,000 | $309,944 | $316,000 | $289,700 |
| North Bay / Elmwood | $238,000 | $248,750 | $262,500 | $250,000 |
FEATURED MULTI-FAMILY HOUSING DEVELOPMENT
Wangard Partners, Inc., a commercial real estate firm based in Milwaukee, celebrate the official opening of Tivoli Green, a 278-unit apartment community, with a ribbon cutting ceremony on Thursday, July 30, 2020.
CEO and Founder of Wangard Partners, Inc., Stewart Wangard, said the strong partnerships cultivated throughout this process not only helped expedite the project, but were instrumental in creating much needed housing in Racine County.
“I couldn’t be more satisfied with the work our teams have done up to this point,” said Wangard. “This project not only signifies opportunity for current and future residents of Mount Pleasant, but it also highlights the fact that Racine County is taking incredible steps to prepare for positive growth and development.”
In 2018, Pre/3 purchased the western half of the “Fonk property,” a 44-acre parcel located in the southeast corner of Union Grove. This residential development will consist of 63 single-family homes and 120 multi-family units (10 buildings with 12 units each).
Homes range in size from 1, 875 to 2,229 square feet and offer both two- and three-car garage options. Three distinctive exterior architectural styles, six unique interior home plans, and a collection of upscale finishes comprise this beautifully landscaped neighborhood.
Early phases of construction began on the Village of Waterford’s first new multifamily development in about 20 years.
The 84-unit, $8.4 million market-rate luxury apartment complex broke ground in 2019. Developer, PRE/3 Real Estate proposed constructing eight buildings south of Kramer Road between Highway 164 (Big Bend Road) and the Seven Waters Recreation Trail.
The transformation of dilapidated property into lakefront homes is closer to fruition after an agreement was reached between the village and developer CCM-Caledonia LLC.
The $60 million development is expected to include three six-story condominiums along the lakefront. Additionally, condominium townhomes are to be constructed east of Erie Street. The development will be known as Waters Edge Place.