Friday, October 21, 2005
Dane County Real Estate: Buyer's Market
by Tom Bozzo
It's a little scary to imagine the situation if the local economy were bad.
Looks like high prices and rising interest rates are denting the local real estate market. Some statistics reported in today's Cap Times:
- September house and condominium sales down 10% year over year — 563 units vs. 626 in September '04;
- 3,636 Dane County listings on the South Central Wisconsin MLS at the end of September, up 59% over September '04;
- 686 listings over $400,000 (note to visitors in high-priced markets, that's still a lot for around these parts), 50 sales — nearly 14 months' inventory at the present sales pace;
- Mean and median prices are still up modestly over last year, around 6%.
It's a little scary to imagine the situation if the local economy were bad.
