In the first month of the year, which typically ranks lowest for home sales, 2.8 percent more sales closed statewide than in January 2017, the Wisconsin Realtors Association reported. South Central Wisconsin sales increased 4.5 percent.
The home-buying trend continues to increase despite an ongoing lack of inventory. WRA reported a decrease statewide in months of supply from 4.3 in January 2017 to 3.5 in January 2018. A balanced housing market is typically represented by six months of available supply. In South Central Wisconsin, it's certainly a seller's market. There was just 1.26 months of supply available in mid-February, the REALTORS Association of South Central Wisconsin reported. While new listings are down 4.5 percent statewide, they’re up 7.5 percent in Dane County, but down from in years prior.
Conditions have pushed home prices up - to 6.8 percent statewide and 17.3 percent in South Central Wisconsin from January 2017. The median price of homes sold in January 2018 was $168,000. In Dane County, it was $264,950, according to the South Central Wisconsin Multiple Listing Service. With the relative stability of low mortgage rates and low unemployment statewide, home buyers are seeing an increasing number of competing offers and homes are selling fast. It's times like these when
the Realtors and relocation experts at Restaino & Associations can really help make moves seamless - whether we’re working on behalf of an individual or corporation transitioning to or from the Dane County area.
Our dedicated relocation team is a trusted partner working with corporations who wish to recruit, attract and retain superior workforce talent by providing effective relocation assistance. Visit www.MadisonRelocation.com to learn more. Our team can navigate your client or company though the entire relocation process by provding complimentary customized orientations of the area, employment guidance for family members, informotion about area rentals and home buying and much more.