This Month in Real Estate: October 2015

The South Central MLS reports that the 586 Dane County sales reported for October are 18.9% more than 2014 and are the highest total for the month since 2004. This brings year-to-date sales to 6,950 which is 13.6% ahead of last year and on pace to be one of the top three years of home sales ever.

The median sales price in Dane County for October is staying steady at $230,000, as it has been year-to-date. This compared to the median sales price for the first 10 months of last year the South Central MLS reports there is a 4.6% increase. The median sales price in Dane County has demonstrated solid growth since 2012 and is exceeding the previous annual high of $218,000 set at the end of 2007.

For the month of October new listings have increased 4%, but the higher volume of sales continues to keep the number of homes for sale very lean. Only 3.06 months of active inventory is now available, compared to the 4.5 months just one year ago.

Across South Central Wisconsin MLS, sales increased 3.8% in October, making it 11.7% ahead of last year. The median sales price increased 7.2% as well for the month and 6.2% year-to-date. All counties are equally or exceeding 2014 in year-to-date sales and median prices.

With great interest rates still in place, pending the Federal Reserve's next meeting in December, and steadily rising prices, many buyers have recognized that waiting to act may cost more. Now is a great time to contact us to buy or sell 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.

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