South Central WI real estate update: Sales up 19% over last September

October 17, 2011

South Central Wisconsin

Home sales in Dane County are up by 23% in September. This will be the third month in a row where 2011 sales surpassed sales in 2010. South Central WI MLS-wide, September real estate sales are up by 19%.  The median price for Dane County, $206,000, the midpoint of all closed sales ranked from lowest to highest price, stayed almost identical compared to last year.  For the entire South Central MLS area, median price was down by 3.8%

The most popular price range is again between $100,000-$300,000.  38.1% of single family homes sold in September were in the $100,000-$200,000 range and 18.1% in the $200,000-$300,000 range. Below is a snap shot of counties within the South Central MLS. (data from SCWMLS)

 SOLD Residential Listings including Condos as of September

County  YTD 2011  YTD 2010  YTD 2009
Columbia County      
# sales  380  381  383
Ave sales price  141,528  165,189  158,909
median sales price  130,000  145,000  145,000
Dane County      
# sales  3704  4154  4270
Ave sales price  239,925  233,240  228,580
Median sales price  206,000  205,241  205,000
Dodge County      
# sales  323  401  399
Ave sales prices  117,573  122,069  129,924
Median sales price  99,900  110,000  117,000
Grant County      
 # sales  208  211  232
 Ave sales price  104,254  116,256  117,601
 Median sales price  85,000  102,500  107,800
Green County      
 # sales  279  241  247
 Ave sales price  143,982  146,168  152,125
 Median sales price  123,000  129,900  128,000
Iowa County      
 # sales  139  138  154
 Ave sales price  145,365  159,471  163,367
 Median sales price  15,500  136,000  125,000
Rock  County      
 # sales  1156  1228  1180
 Ave sales price  103,522  111,614  120,504
 Median sales price  90,000  105,000  115,000
 Sauk County      
 # sales  469  412  424
 Ave sales price  147,885  161,345  157,734
 Median sales price  127,500  144,500  141,000

 

The increased activity we’ve seen in the last few months in encouraging. Interest rates remain at record lows and home affordability is high.  In spite of market challenges, sales in the fourth quarter of 2011 should be much better than the fourth quarter of 2011.  That’s a good way to head into the new year.  

Is now a good time to buy a home?

It depends on your individual situation. But if you are thinking about it and a little unsure, here’s what The Wall Street Journal and Forbes have to say about buying a home:

“It’s an excellent time to buy a house, either to live in for the long term or for investment income… Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yeilds are scarce, buyers should jump.” Read the rest of the WSJ article “It’s Time to Buy That House”

From the blog for WSJ, marketwatch.com: Now could be the best time in history to buy a home.”

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