December 2015 Housing Market Stats - Dane County, WI

Results are now available for Dane County, Wisconsin home sales for December 2015. The median sales price for December 2015 rose a hefty 6.22% year-over-year while total active residential listings were down more than 21% year-over-year. Total sold residential listings were down only fractionally over the same period. Buyers clearly remained undeterred by the winter weather with traffic remaining solid throughout one of Wisconsin’s coldest months. It should be pointed out however, that with the exception of a handful of days the weather has been unseasonably warm this winter by any measure and snow has only fallen in moderation.

Inventory for both single family homes and condos in Dane County WI was down considerably in December 2015 compared to December 2014: down 20+% and 25+%, respectively. And Days On Market (DOM) were also down sharply for both single family homes and condos at nearly 32% and 30+%, respectively. These unusually large numbers clearly show increased sales activity and fewer days on market despite dramatically lower inventory. If there was ever a time to be selling your home it is right now! Low inventory and high demand mean your chances of selling your home fast for top dollar are dramatically increased. 

Short of shouting it from a mountain top, there no real clearer way of putting it: we’re still in a strong seller's market. Will that change in the Spring when more sellers traditionally jump on the bandwagon and try to capture increased buyer traffic? Quite possibly. But if inventory increases dramatically and already high buyer traffic remains strong or only increases moderately, a dramatically improved inventory situation may very well put us in a more balanced market. What does that mean for buyers and sellers in Dane County? It means that if you're interested in selling in 2016, don't wait to inquire about the value of your home. And if you’re thinking of buying, wondering what just went on the market, or looking to get pre-approved by a qualified lender, remember that no matter what time of year, having a strong advocate and an experienced Realtor in your court to secure the right property at the right price (and terms!) is a very smart move indeed. 

Posted by Jolenta Averill on


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