Dane County home sales up big in July

Dane County single family home sales jumped from 510 in July of 2008 to 595 last month - an increase of 17% - with homes priced under $250,000 selling very well. Sixty-seven percent of the homes that sold in July sold for under $250,000, compared to 56% last year. Thirty-eight percent of the homes that sold in July sold for under $200,000. The number last July was 29%.

July home prices were lower. The median single family home price decreased from $235,000 in July of 2008 to $220,000 in July 2009.


These numbers from the South Central Wisconsin MLS make it clear the first-time home buyer is driving the market. We're assisting several buyers right now who are working to find the right home before the first-time home buyer tax credit expires on December 1st. We won't be surprised if we see higher single family home sales for the next several months.


It's important to note the numbers above do not include condos. July condo sales remained light compared to last year. You'll find our full report on the month of July, including a separate breakdown of the condo market, at DaneCountyMarket.com.


Have a good weekend,


Dan Miller, Keller Williams Realty and DaneCountyMarket.com