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Our preliminary report on the Dane County real estate market for the month of December is provided below. Our full December report will be published in early February. You'll find our full menu of reports for the month of November here. We've seen what a tax credit deadline can do to spur the market. Due to the previous tax credit deadline of November 30th, Dane County home and condo sales more than doubled in November. December was a different story. December home and condo sales decreased by 12% from the number of homes and condos sold in December of 2008. However, we expect sales to rise once again as we near the deadline for the extended and enhanced home buyer tax credit.
Dane County Prices - Homes and Condos Combined
Fifty-two percent of the homes and condos sold in December went for under $200,000, compared to 39% last year. The December median price of $192,000 decreased by 12.7% from the median price of $220,000 in December of 2008. The year-to-date price of $202,000 decreased by 6% from the 2008 year-to-date price of $215,000.
Dane County Sales Volume - Homes and Condos Combined
A total of 253 home and condo listings sold in December - a decrease of 12% from the 289 listings sold a year ago. The 5,455 listings sold year-to-date through the month of December increased by 2% from the 5,336 sold in 2008.
Dane County Prices - Homes Only
The median price for Dane County homes decreased for the tenth straight month on a year over year basis. The median price of $225,000 decreased by 1.5% from the December 2008 median price of $228,500. The year-to-date median price of $218,000 decreased by 5.2% from last year's price of $229,900.
Dane County Sales Volume - Homes Only
A total of 181 single family home listings sold in December - down 25% from the 242 listings sold in December of 2008. The year-to-date total of 4,186 single family home sales increased by 3% from the 4,046 sold in 2008.
Dane County Prices - Condos Only
The median price for Dane County condos decreased for the 13th straight month on a year over year basis. The median Dane County condo price of $158,950 decreased by 5.1% from the December 2008 price of $167,500. The year-to-date price of $150,000 decreased by 10.2% from last year's price of $167,000.
Dane County Sales Volume - Condos Only
A total of 72 Dane County condo listings sold in December - an increase of 53% from the 47 listings sold a year ago. (Keep in mind the sales volume from December 2008 was severely impacted by the downfall of the financial markets earlier in the year. Sales volume in December 2008 decreased by over 40% from the previous December). The year-to-date total of 1,269 condo sales decreased by 2% from last year's total of 1,290.
About us
This market update is provided courtesy of Dan Miller and Shawn Kriewaldt of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact Dan at 608-852-7071 (danielmiller@kw.com) or Shawn at 608-212-5743 (shawnkriewaldt@kw.com). Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.
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