Good Riddance Year of the Rat. Happy Year of the Ox!
It is said that the Year of the Ox will bring stability and calm to the world. I think we could all use a bit less drama and turmoil after 2008, the Year of the Rat. In Chinese astrology the rat symbolizes greed and cleverness - a perfect symbol of what seems to have led to the U.S. economy's perfect storm. The Ox, on the other hand, is expected to bring "extra drive and enthusiasm" in pursuit of our goals. And because earth is equivalent to the color brown in the five-element system, the year 2009 is also called Brown Cow Year.
How Now Brown Cow?
Well, so far it's a little early to tell. Nationally, we're still hitting new lows every week in the housing market. But at some point the market must eventually bottom out. The Greater Madison Area market has been down but anything from out. In fact, activity picked up in December in response to the excellent interest rate picture. Sales prices have held pretty steady too: the average sale price for a home in Dane County was $250,253 for Jan-Nov 2008 (compared to $251,934 for Jan-Nov 2007 and $247,184 for Jan-Nov 2006) and the median sales price held steady at $215K for Jan-Nov 2008 (compared to $217,900 for Jan-Nov 2007 and $214,900 for Jan-Nov 2006). Contrary to what you might expect, volume sold in Dane County is not down by much: 4,918 units sold from Jan-Nov 2009, down only slightly from the 5,123 units sold from Jan-Nov 2007 and the 5,425 units sold from Jan-Nov 2006. So if you've been thinking about listing your home, our market is still strong. There were 4,918 homes for sale at the end of November - down slightly from Nov of '07 and Nov of '06. And if you're thinking about buying, the rate picture couldn't be better! Search the South Central Wisconsin MLS for homes in Madison and Greater Madison or get in touch today. Now is one of the best opportunities in decades to find a great deal!
Ox, You're Here Early!
Chinese New Year usually arrives in early February. Chinese New Year 2009 is different. It occurred January 26, 2009 (in China's time zone). Why did Chinese New Year come earlier this year? In order to adjust the lunar and solar cycles, the Chinese Lunar Calendar added an extra lunar fifth month in 2009. And as far as I'm concerned the Year of the Ox couldn't have arrived soon enough! So hello Ox and good riddance Rat - may the early arrival of the cow bring an early arrival to Spring temperatures and the Spring housing market in Madison!
Data: SCWMLS (single family homes and condos)Posted by Jolenta Averill on