Click the above link to review the latest quarterly supply and demand data for homes and condos in Dane and Sauk counties. The data is organized by price ranges. The most interesting data to consider is the Months of Inventory column.

Months of Inventoryshows the months it would take to sell out the current inventory of  properties on the market at the current rate of sales. Six months of inventory is considered a “normal market” or a “balanced market”, meaning it is not a buyer’s market nor a seller’s market. Using that standard, you can see that nearly every price range is in over-supply, particularly condominiums.

These figures can change dramatically and we tend to see the weakest figures in the 4nd quarter when buyer activity is at its nadir.

Also, keep in mind that these are county-wide figures. Even within a particular subdivision, we can find a different situation. Contact us you’d like a detailed analysis on a particular property.

http://host.madison.com/wsj/business/real-estate/article_06feb2ee-a1d0-11e0-90c6-001cc4c03286.html

http://online.wsj.com/article/SB10001424052702303657404576363143130774406.html?mod=WSJ_RealEstate_LeftTopNews

http://www.wra.org/hsrMay2011/

“Compared to May of last year, sales of existing homes fell 22.6 percent and the statewide median sale price was down 5.2 percent to $136,700.”

It’s important to note that last year had a home buyer tax credit in the spring that skew sale towards the first part of the year. We anticipate stronger 3rd and 4th quarters in 2011 vs. 2010. So, we expect by the end of the year that 2010 and 2011 will look about the same in terms of sales. In terms of median sales prices however, I would not predict a recovery so quickly.

The Wisconsin Department of Revenue issues its quartly outlook with some good predictions for Wisconsin’s housing market. Click the link above for more info.

MadisonAssessments2011

Click the above link to read WRA’s latest home Sale Report. In summary, compared to last year’s monthly sales, 2011 is way down however this is due solely to the tax credit that expired this time last year. Going forward, we expect the stats to even out. We know from our internal showing request stats and the current volume of offers coming in that the trend for future months will show significant recovery.

Interest rates are excellent and home prices are still moderated by the relatively slow market. Buyers would be wise to act as most experts believe interest rates will have to rise in the future.

Good article describes the mixed of factors affecting the market. Buyers generally believe prices have hit bottom, but the pricing pressure from foreclosures cannot be ignored. What our housing market needs more than anything is jobs and consumer confidence.

Click the above link to review supply and demand for homes and condos in Dane and Sauk counties dated April 2011. The data is organized by price ranges. The most interesting data to consider is the Months of Inventory column.

Months of Inventory shows the months it would take to sell out the current inventory of  properties on the market at the current rate of sales. Six months of inventory is considered a “normal market” or a “balanced market”, meaning it is not a buyer’s market nor a seller’s market. Using that standard, you can see that every price range is in over-supply. Note however that we are entering the busy season of the year for real estate sales. The market typically picks up beginning in February and a large number of homes close between June and August. Still, this is a strong indication that the market still favors buyers.

These figures can change dramatically and we tend to see the weakest figures in the 4nd quarter when buyer activity is at its nadir.

Also, keep in mind that these are county-wide figures. Even within a particular subdivision, we can find a different situation. Contact us you’d like a detailed analysis on a particular property.