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March 2014 Dane County Foreclosures Continue to Fall

By Dan Miller danielmiller@kw.com
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Monthly Trend

A quick note on how you can search for Dane County and Madison foreclosures: We have six foreclosure search tools to assist you with your bank owned (REO) and short sale property search. All 6 tools are available on our foreclosures and property search menus. Our monthly Dane County foreclosure report follows.

Dane County foreclosures dropped from last March, representing the 20th straight month of filings at or below the total from the same month of the prior year.  March foreclosure filings decreased by 17.1% from the number of filings registered in March of 2013, according to data maintained by the Wisconsin Circuit Court. A total of 68 new foreclosures were filed in March compared to 82 filings a year ago.  

Wisconsin foreclosure filings also decreased, by 15.8% from the number of filings registered a year ago. A total of 1,239 new foreclosures were filed in March compared to 1,472 in March of 2013.

The graph below shows the number of monthly Dane County foreclosure filings dating back to January, 2005. March was the 20th straight month to register a total at or below the total from the year before. 

This graph shows Dane County foreclosure filings for every March dating back to 2004. As the graph shows, the foreclosure total this past month was the lowest for any March since 2005. 

Year-to-Date Trend

The number of new Dane County foreclosure filings initiated year-to-date through the month of March decreased by 35.7% from the levels of 2013. A total of 169 filings were initiated year-to-date through March compared to 263 during the same time period in 2013.

Wisconsin foreclosures decreased by 24.6% from the levels of 2013. A total of 3,655 filings were initiated year-to-date compared to 4,848 in 2013. The following graph compares Dane County and Wisconsin year-to-date foreclosure growth through the month of March. The growth rates reflect the percent change from the number of foreclosures registered year-to-date through March of 2013.

Recent History

From the graph below you’ll see Dane County foreclosure activity has decreased for three straight years after increasing for six straight years. Foreclosure volume in 2013 ended the year at the lowest level in the past 7 years. 

The following graph compares Dane County and Wisconsin foreclosure growth dating back to 2001. Prior to 2011, Dane County foreclosure growth had outpaced growth at the statewide level for 5 of the previous 6 years. Foreclosure growth in Dane County was lower than the statewide level in 2011, 2012, and 2013.

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This information is provided courtesy of Dan MillerShawn Kriewaldt, and Chris Venden of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:

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