real estate trends: Dane County housing starts increase 23% in April - 05/12/12 04:16 AM
Dane County housing starts increased from 66 in April of 2011 to 81 this April, a jump of 22.7%.
As the graph below shows, housing starts this April were the highest for any April in the last 4 years. We believe housing starts will continue to rise this year, based on trends in the larger market. Locally, we are seeing a noticeable increase in the number of people who are opting to build.
You'll find our full Dane County housing start report on the Market Trends menu at DaneCountyMarket.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.DaneCountyMarketSnapshot.com
www.SearchDaneCounty.com
www.DaneCountyForeclosureSearch.com
… (0 comments)
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real estate trends: Dane County pending condo sales up 47% - 05/03/12 04:26 AM
Dane County condo sales (excluding houses) are even with last year's pace, but our latest Dane County pending condo sales report predicts the sales pace will accelerate in May. As the graph below shows, the number of listings with accepted offers is up by 47% from the same time last year.
Stay tuned for more market updates coming very soon.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com.
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
www.DaneCountyForeclosureSearch.com
… (0 comments)
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real estate trends: Dane County pending home sales up 50% in April - 05/01/12 03:30 AM
Dane County home sales (houses, excluding condos) are up by more than 21% this year. Our latest Dane County pending home sales report predicts the rise in sales will accelerate in May. As the graph below shows, the number of listings with accepted offers is up by 50% from the same time last year.
Stay tuned for our pending condo sales report, which will be released very soon.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com.
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
www.DaneCountyForeclosureSearch.com
… (0 comments)
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real estate trends: March Dane County home sales up over 37%; condo sales down over 9% - 04/11/12 04:26 AM
Here's a review of March Dane County home sales from a historical perspective.
The 355 Dane County home sales recorded in March were 37.1% higher than the 259 home sales in March of 2011, representing the hightest total for any March in the last 5 years. Looking back further in time, last month's sales total was 10th highest for any month of March in the last 22 years.
Here's a review of March Dane County condo sales from a historical perspective.
The total of 75 Dane County condo sales recorded in March was 9.6% lower than the 83 condo sales from March of 2011. Here's how March condo sales have trended over the last 22 years.
Looking ahead: Our pending home sales … (0 comments)
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real estate trends: Dane County housing starts up 15% in March - 04/05/12 04:28 AM
Dane County housing starts increased from 60 in March of 2011 to 69 this March, a jump of 15%.
Housing starts this March weighed in at the second highest total out of every March over the last 5 years, but remain at historically low levels. We believe housing starts will continue to rise this year, based on trends in the larger market. Locally, we are seeing a noticeable increase in the number of people who are opting to build.
You'll find our full Dane County housing start report on the Market Trends menu at DaneCountyMarket.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.DaneCountyMarketSnapshot.com
www.SearchDaneCounty.com
… (0 comments)
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real estate trends: Dane County's growing source of home buyers - 04/03/12 03:54 AM
We recently blogged about the big jump in March home sales in Dane County. Our preliminary review of the March 2012 MLS data shows the big influx of home buyers is coming predominantly from the first-time home owner.
In fact, 53% of the sales in March 2012 were for homes priced under $200,000, compared to only 43% in March 2011.
Soon you will see various market reports stating sales were higher in March, but median prices were significantly lower. Lower median prices are exactly what we should expect with the large influx of first-time home buyers. Many more people are buying in the starter … (0 comments)
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real estate trends: Good news for Dane County real estate - 04/02/12 04:48 AM
The Dane County real estate market is improving in a number of different ways.
Although our final numbers for March are not complete, March home sales will be the highest for any March dating back to 2008. We see this trend continuing, as our latest pending home sales report shows 36% more listings with accepted offers compared to the same time last year. With more buyers and less inventory, 2012 is shaping up to be a better year for sellers.
The bounce is smaller for the condo market, but we expect more condos to be sold in 2012.
Much of the increased purchase … (0 comments)
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real estate trends: Dane County housing starts move lower in February - 03/21/12 03:45 AM
Dane County housing starts decreased from 43 in February of 2011 to 40 this February, a drop of 7%.
Although sales of existing homes are picking up, housing starts remain stuck at historically low levels. This graph shows the number of Dane County housing starts for every February dating back to 1999. The 40 housing starts recorded this February are just above the 37 recorded in February of 2009, the lowest February on record.
You'll find our full Dane County housing start report on the Market Trends menu at DaneCountyMarket.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.DaneCountyMarketSnapshot.com
www.SearchDaneCounty.com
www.DaneCountyForeclosureSearch.com
… (1 comments)
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real estate trends: Dane County distressed property index at 28.5% in February - 03/20/12 03:41 AM
The Dane County Distressed Property Index was 28.5% in February. February was the second month in a row with a reading below 30%. Note, however, Dane County foreclosure filings are still trending along historically high levels, and there are still many Madison and Dane County foreclosures for sale.
Here's how the distressed property index has been trending since 2006.
If you are interested in purchasing a distressed property, we have five foreclosure search tools to assist you with your bank owned (REO) and short sale property search. All five tools are available on our property search menu as well as our foreclosures menu at DaneCountyMarket.com.
Dan … (0 comments)
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real estate trends: Dane County foreclosures up slightly in February - 03/15/12 04:38 AM
Dane County foreclosures increased in February for the second month in a row. This graph shows the number of Dane County foreclosures filed in every February dating back to 2004. The 118 foreclosures filed in February of 2012 were up by 1% from the 117 filings last year, and up by 281% from the 31 foreclosures filed in February of 2004.
Foreclosures in 2012 are currently ahead of last year's by pace by more than 10%.
For our full Dane County foreclosure report, please see the new foreclosures menu at DaneCountyMarket.com . Our report also has information on foreclosure filings for the State of Wisconsin.
If you are interested … (1 comments)
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real estate trends: Dane County home sales up 17% in February; condo sales up 27% - 03/12/12 03:38 AM
Here's a review of February Dane County home sales from a historical perspective.
The 185 Dane County home sales recorded in February were 17.1% higher than the 158 home sales in February of 2011, representing the second highest February total over the last 4 years. February 2010 had 200 home sales, but you may remember that number was juiced by the recent home buyer tax credit.
Looking back further in time, the February sales total was lower than the total for every February during the years 1998 to 2008.
Here's a review of February Dane County condo sales from a historical perspective.
The total of 47 Dane County condo sales recorded in February was 27% higher than the 37 condo … (0 comments)
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real estate trends: First-time home buyer activity is up significantly this year - 03/02/12 04:28 AM
Dane County home and condo sales increased in February, and this trend will continue throughout the Spring buying season. Our latest pending home sales report shows Dane County pending home sales are up 38% from last year. Pending condo sales are up 15%.
Much of the new momentum in this year's market is coming from the first-time home buyer. Consequently many homes priced at $250,000 and under are receiving multiple offers from competing parties - and selling very quickly.
If you are in the market for your first home, be prepared to act quickly. Get your mortgage pre-approval, and work with a full-service buyer agent who will … (3 comments)
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real estate trends: How Dane County home values have changed - 03/01/12 03:53 AM
According to our recent review of MLS data, the peak year for Dane County home prices was 2006. In 2011, the average Dane County home sold for 11.6% less than its 2006 value.
The results of our study also include the following:
Prices continued to trend lower in 2011. Home values in 2011 decreased by 2.2% from 2010. The average bank-owned foreclosure sold for 28.4% less in 2011 when compared to its previous sale price. The average short sale home sold for 24.7% less in 2011 when compared to its previous selling price. Price trends vary a lot by location. Prices have been very … (0 comments)
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real estate trends: More Dane County housing starts expected in 2012 - 02/16/12 05:52 AM
Dane County housing starts increased by only two in January, but home builder confidence is at a 4 year high, suggesting we'll see more housing starts in the year ahead.
A number of other factors point to more housing starts in 2012:
1) A trend toward more home buyers entering the market, which will help to reduce the inventory of existing homes.
2) A decrease in the number of active listings, which is beginning to narrow the gap between supply and demand.
3) A trend toward fewer distressed properties entering the market. Foreclosures are a big source of competition for new … (0 comments)
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real estate trends: Dane County January home and condo sales near last year's levels - 02/14/12 07:11 AM
Here's a review of December Dane County home sales from a historical perspective.
The 186 Dane County home sales recorded in January were 1.6% higher than the 183 home sales in January of 2011, and the highest total for the month of January since January of 2007.
Looking back further in time, the January sales total was the 10th lowest out of the 22 Januarys dating back to 1991. Sales in January showed some improvement from a historical context. Previous monthly sales totals in 2011 have ranked at the bottom or very near the bottom when viewed within the context of the last 22 … (0 comments)
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real estate trends: Expect higher home sales in 2012, possibly much higher - 02/01/12 07:50 AM
We recently posted on our changing real estate market, and how many well-priced homes are receiving multiple offers and selling very quickly. The numbers back up our observations. Pending home sales and pending condo sales are up 22% and 48%, respectively. Combine the increased demand with lower inventories, and we see 2012 shaping up as a better year for sellers. We expect home sales to increase by at least 10% this year.
Much of the buyer activity we are seeing right now is for properties priced under $200,000. The first-time home buyer market had fallen considerably after the last tax credit … (2 comments)
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real estate trends: Why you don't want an average listing... - 01/28/12 08:07 AM
Last year, the average Dane County single family home listing resulted in a total days on market experience of 270 days (nine months). Here's how the total days on market experience for Dane County homes has been trending since the year 2000. These numbers cover homes only (excluding condos):
These numbers show the importance of your pricing and your marketing. If either are off the mark, you risk seeing your home sit on the market for a long time as the market continues to erode the value of your home.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
… (4 comments)
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real estate trends: Dane County home and condo sales from a historical perspective - 01/18/12 06:34 AM
Here's a review of December Dane County home sales from a historical perspective.
The 241 Dane County home sales recorded in December were 15% higher than the 209 home sales in December of 2010, and 32% higher than the 183 sales in December of 2009. Keep in mind the December totals in 2010 and 2009 were the two lowest totals amongst all Decembers dating back to at least 1991. Looking back further in time, the December sales total was the 6th lowest out of the 21 Decembers dating back to 1991.
Here's a review of December Dane County condo sales from a historical perspective.
The total of 63 Dane County condo sales recorded in December was … (0 comments)
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real estate trends: Market Value vs Assessed Value in Madison, WI - 01/10/12 07:10 AM
Sixty-five percent of all Madison homes sold for less than the tax-assessed value in 2011.
Fifty percent sold for at least $10,000 below the assessment.
Some home owners are still tempted to price their home based on the assessed value. As the data shows, the tax assessed value is not a reliable measure of true market value.
In the near future I'll be sharing a simple exercise that you and your Realtor can perform to get an accurate reading on your home's market value. … (1 comments)
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real estate trends: Dane County home sales are moving in the right direction - 12/21/11 07:02 AM
Home sales are still low, but they are moving in the right direction. Condo sales have much more work to do.
You'll find all of our no-spin home and condo market reports updated through the month of November at DaneCountyMarket.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
www.DaneCountyForeclosureSearch.com
… (0 comments)
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