Here are some market statistics regarding real estate in Dane County for 2011…
Looking at Single Family Homes:
- 3,719 sales. Only about 0.5% fewer sales than 2010 (3,791). Because there was no first time home buyer credit in 2011, it is a good sign to see the number of sales essentially remain constant.
- 6,949 listings. The number of homes on the market dropped significantly…there were about 9% fewer listings in 2011, compared to 2010 (7,654).
- Average sale price = $256,952. This is only about 0.5% higher than 2010 ($255,175)…so prices have remained stable.
- 46% expireds. The percentage of listings that expire without a sale has remained constant for a few years now. It has been between 46-48% since 2009.
- 95.4% average Sale Price to List Price ratio (in other words, the average sale sold for 4.6% less than asking price). This stat has declined for 5 straight years now. It was about 96.0% in 2010, 96.2% in 2009, 96.3% in 2008, 97.0% in 2007, 97.7% in 2006.
Looking at Condos:
- 935 sales. About 19% fewer sales than 2010 (1,153). Financing is becoming more and more difficult for condos, and the FHA approval list is continually getting smaller.
- 2,057 listings. The number of condos on the market dropped significantly…there were about 19.5% fewer listings in 2011, compared to 2010 (2,557).
- Average sale price $180,222. You can see in the listings & sales, that the condo market continues to see the consequences of this recession. Although a bright note is that the average sale price in 2011 was about 8% higher than 2010 ($172,808).
- The average Days on Market for a sold condo was 209 days! This is more than 3 times the avg DOM for single family homes in 2011. And it is 22% longer than the average DOM in 2010 (171)
- 62% expireds. Down from 67.5% expireds in 2010.
- 94.8% Sale price to List Price ratio. This stat has declined for 6 straight years now. 95.9% in 2010. 96.4% in 2009. 97.2% in 2008. 98.5% in 2007. 99.4% in 2006. 99.7% in 2005.
To see statewide real estate market stats, go here: http://www.wra.org/HousingStatistics/