October Statistics for Dane County
I am a huge Marvel Comics fan and enjoy the lessons that can be learned from our super heroes. Showing Super-Man blasting off of Earth's surface is how I feel about the strength of our local market. Home sales are up for the fourth month in a row in Dane County. Sales from October 2010 to 2011 are up 3.3%. For the entire SCWMLS, October is up 2.1% from 2010 to 2011. We have a strong local market compared to the national news and markets!
The year started off slower than 2010. Mainly due to the effects of the first time buyer tax credit in 2010. The gap is narrowing quickly and expectations from Realtors and economists is that the last two months will be very productive.
The median sale price of homes in Dane County is similar to 2010. $206,000 (2011) vs. $205,726 (2010). The median sales price for the SCWMLS (8 counties) is 3.8% lower than 2010.
The number of homes on the SCWMLS are declining year to year and are trending downward. New listings are also trending downward in Dane County and SCWMLS.
I thought that this next statistic was really cool. There are 50% of the listings that are for sale from $120,000-$300,000. 50% of the sales are happening between the price ranges of $100,000-$250,000. This is for single family homes but the same trend is happening for condos as well.
Heading into the fourth quarter of 2011, the interest rates are still at historic rates just under 4%, homes are now more affordable then renting due to rising rents and there is a great inventory in the price range of $120,000 to $300,000 in the MLS. The end of the year looks like it will continue the four month upward trend of increased sales and prices overall.
Have a great Thanksgiving! We all have people and things in our lives that we can say thank you for. Let's tell those around us how special they really are and thankful for who they are in our lives.
