January 2012
| January Home Sales Off to Solid Start |
| Home sales in Dane County started off the year on a solid note. While for the first time in the past 7 months, sales did not exceed those of one year ago, they did not trail either. The 229 sales reported (as of February 12, 2012) is the same number as January 2011. And we are reminded that last January was the highest monthly total since 2007. Overall homes sales for the entire SCWMLS were 14% more than one year ago. |
| The median price in Dane County for the most recent 12 months (February 1, 2011 – January 31, 2012) is virtually even with the prior 12 month period -$206,000 compared to $207,500 – and is above that of the same period in 2009-2010 when the median sale price was $201,000. For the month, the median dropped 5.3%. |
| New listings in January were slightly lower but like January 2011, were significantly fewer than prior years. Total active listings continue the year-to-year downward trend, dropping for the 5th year in a row. For the entire region, new listings and total active listings were also slightly down. The reduction in inventory continues to move the market closer to balance in terms of supply and demand. |
| On the financing front, cash sales once again were a significant percentage of total transactions – this month representing 28%. This is an important number to follow as concerns regarding lending practices still being too tight persist in the marketplace.Download our Market Update, our monthly examination of South Central Wisconsin’s residential real estate market. We believe this guide will be a useful tool for you, providing local statistics, industry insight, and buyer and seller tips. |
Category: Industry News
