Real estate is local. While statistics on entire states, counties or even nearby cities is interesting, and sometimes shocking, if its not a statistic for your town, its probably not going to help you make any hard real estate decisions. The average sale price of Sun Prairie has nothing to do with the average sale price in Mazomanie, so using Dane County statistics to price either is not a good strategy.
I would even argue that real estate is hyper-local: Certain neighborhoods in certain towns are "hot"--they have higher sale prices and lower days on market than other neighborhoods in the same town. Even price ranges in certain towns are seeing great success in this slower market.
As I said in a recent blog, anything can happen in this business. I may take a listing where the statistics point to a lower price and a long time on the market-- and it will sell in 24 hours. The converse can also happen. It's impossible to look into a crystal ball to see what pool of buyers are in the market at any given time, when they will buy, or how much they will pay. I can only tell you what the recent history is for your size, type and location and we'll do our best from there.
If you are looking to sell or buy, make sure the numbers you are looking at most closely resemble your home or prospective home.
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