Here's a look at February Dane County condo sales from a historical perspective.
The total of 78 Dane County condo sales recorded in February was 56% higher than the 50 condo sales from February of 2012. Condos sales last month were the highest for any February in the last 6 years, as buyers continued to take advantage of lower interest rates and lower prices.
The condo market has been especially strong since last May. Dane County condo sales increased by 30% in 2012, and increased by 58% and 56% in January and February of 2013, respectively. Months of inventory have decreased significantly, as active condo listings have moved lower, bringing more balance in the market between supply and demand.
Here's how February condo sales have trended over the last 22 years.
This graph shows the monthly year-over-year change in Dane County condo sales (excluding homes) dating back to January of 2005. Condo sales dropped off dramatically in July of 2010, when sales began a run of 12 straight monthly declines before increasing in 16 of the last 20 months.
Looking ahead: Our pending condo sales report suggests sales in March will increase significantly from the sales total from March of 2012.
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This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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