According to the South Central Wisconsin MLS The first quarter of 2016 has come to a close and median prices are higher than a year ago. In Dane county sales are 1.5% ahead of 2015 - which finished the year as the second best ever for home sales. For the entire SCWMLS (excluding Dane County) sales increased 4.6%. Median sales prices have also risen this year as compared to 2015. For the quarter prices are up 4.5% to $230,000 in Dane County and for the SCWMLS region up 8.1% to $129,700.

Active listings are at a 30% drop compared to last year in Dane County and down 18% for the SCWMLS Region. While inventory remains lean interest rates also continue at historic lows - still below 4%. The low interest rates may be persuading buyers to find a home now rather than later, but low inventory is proving this to be a challenge. Most homes are off the market as soon as they go on and most have several competing offers. If you're on the fence about selling now is the time to get the best price for your home

For information about current market conditions, or to discuss the right time for you to buy or sell a house, contact Josh Lavik & Associates at 608-620-4234