Home sales for the month of December rose slightly from last month, and more significantly from the prior year. There were a total of 257 homes listed for sale over the past 30 days, but twice as many (539) homes sold, keeping inventory tight in Dane County. The average sold home in December spent 50 days on the market.
Inventory in Dane County remains tight, favoring sellers, but has increased ever so slightly over this time last year. Buyers who are looking for a home this time of year should be prepared to act quickly, especially in the median-home market, where demand is the highest.
Sold home prices were largely unchanged from last month. The average sale price for December was just $282 more than the average sold price in November. Compared to the same time last year however, there is a more significant $21,963 increase.
Interest rates rose a bit from this time last month. The slight increase may result in only a $20-$30 difference in your monthly payment, but that can add up over the life of your loan. The good news is that most banking experts are predicting that interest rates will remain stable during 2020, and no significant increases are predicted.
Market conditions are always subject to change, and frequently do throughout the year. At Restaino & Associates ERA Powered, our agents are experienced at navigating our local market. They are your best bet when looking to buy or sell your next home!
Data is based on Single Family and Condominium homes in Dane County, Wisconsin. All of the data represented is courtesy of the SCWMLS system and its participants. No guarantee is made to the accuracy of this data, and data maintained by the MLS does not necessarily reflect all real estate activity in the market.