Here's a review of June Dane County home sales from a historical perspective.
The Dane County single family home market continued to improve in June. The 646 Dane County home sales recorded in June were 28.7% higher than the 502 home sales in June of 2011, representing the highest total for any June over the last 5 years. A look back further in time show home sales this June were the ninth highest for any June over the last 22 years.
With increased demand and less inventory, this year is shaping up to be the best year for sellers in at least 5 years. In fact, prices are rising in some neighborhoods. In some neighborhoods, we're seeing homes sell for prices that weren't possible last year.
Here's a review of June Dane County condo sales from a historical perspective.
The total of 159 Dane County condo sales recorded in June was 43.2% higher than the 111 condo sales from June of 2011. Condos sales last month were the second highest for any June over the last 4 years.
The condo market has impressed to the upside in May and June, increasing by 38% and 43%, respectively. However, months of supply remain high. Buyers continue to have the upper hand in the Dane County condo market as the gap beween supply and demand remains a large one.
Here's how June condo sales have trended over the last 22 years.
Looking ahead: Our pending home sales report suggests sales in July will be well above the levels from June of 2011. We anticipate a growing number of home sales in 2012, by as much as 25% or more before the year is done.
Our pending condo sales report predicts July condo sales will also increase significantly from last year's total. Although the condo market is trending in the right direction, it remains a challenging one for sellers in all price categories. We'll be monitoring the condo market closely as the year unfolds.
Dan Miller, Keller Williams Realty and www.DaneCountyMarket. com