Monthly Trend - Single Family Homes
The median December sales price for Dane County homes was $208,000 - down 2.8% from the December 2011 price of $214,000. The average sales price of $237,412 decreased by 8.4% from the December 2011 average of $259,280.
The graph below shows monthly sales prices dating back to January, 2005. Each green data point represents a price increase from the same month of the prior year. Each red data point represents a price decrease.
Note the seasonality in sales price. Median home prices are typically highest during the summer months, when buyers across all demographics are out in large numbers competing for the homes that are on the market.
Year-to-Date Trend - Single Family Homes
Dane County year-to-date single family home prices through the month of December were lower than the year-to-date prices from last year.
The median year-to-date sales price of $216,900 was down 1% from the median price of $219,000 during the same time period in 2011. The average year-to-date sales price of $245,476 was 4.4% lower than the 2011 average year-to-date price of $256,819.
Recent History - Single Family Homes
Prices for single family homes increased significantly during the first 8 years of the decade. From 2000 to 2007, the median sales price jumped from $154,500 to $232,900 - an increase of $78,400 (or 51%). The median price decreased in both 2008 and 2009, rose in 2010 (due to the tax credit), and then decreased again in 2011 and 2012. Due to the rising demand for real estate, we believe the Dane County median price will increase in 2013.
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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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