Market Update – Sold and Expired Listings Condos

Sold and Expired MLS Listings – June 2014

Monthly Trend – Dane County Condos

June 2014 Dane County condo sales increased from the sales volume registered in June of 2013. The number of expired listings also decreased.

A total of 232 Dane County condos sold in June compared to 205 condos in June of 2013 – an increase of 13.2%. Meanwhile, 54 condo listings expired in June, compared to 55 in June of 2013 – a decrease of 1.8%.

The graph below shows monthly sales volume dating back to January, 2005. Each green data point represents a volume increase from the same month of the prior year. Each red data point represents a volume decrease. Condo sales decreased each of the first five months of the year, but increased in June.

Note the seasonality in sales volume. Similar to single family homes, roughly 75% of all condo sales occur during the months that span from March to September.

Monthly Trend - Dane County Condos

The following graph shows the monthly expired listing volume dating back to January, 2005. Each green data point represents an expired listing volume decrease from the same month of the prior year. Each red data point represents an expired volume increase. Overall, expired condo listings have been trending lower for over four years. This is due to lower inventories and higher sales.

expired listing volume

Year-to-Date Trend – Dane County Condos

Year-to-date Dane County condo sales volume through the month of June decreased by 6.8% from the sales volume levels of 2013, while the number of expired listings decreased by 20.6%.

A total of 801 Dane County condos sold through the month of June compared to 859 during the same time period in 2013. A total of 266 condo listings expired through the month of June compared to 335 in 2013.

Year-to-Date Trend - Dane County Condos

Recent History – Condos

From the graph below you’ll see condo sales volume peaked in 2005, while expired listing volume peaked in 2008. Condo sales increased significantly in 2012 and 2013 after decreasing for 6 straight years. Expired condo listings have decreased each of the last 5 years.

Recent History- Condos