We know the market has become much more competitive for sellers since the latest tax credit expired. The Dane County single family home listing success rate provides one way to measure this change.
The success rate for homes (excluding condos) decreased from 68.4% in July of 2009 to 48.3% in July of 2010. Note a number less than 50% indicates more listings are expiring than selling.
The chart below shows monthly listing success rates dating back to January of 2005. Prior to this most recent July, the success rate had increased on a year-over-year basis for 15 of the previous 17 months.
The success rate also dipped lower in August (our August numbers will be out in the next few weeks). In the meantime you will find all of our single family home reports updated through the month of July on the real estate trends page at DaneCountyMarket.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
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