Since we’re starting a new year, I want to talk about our area’s market reports from over the last few years.
Let’s start with Dane County. In 2018, we saw 7,965 sales. This figure is down by 1% from 2017, but our average sale price is up 5% to $316,000 during the same time period. Over the last five years, the average sale price is up 18% and the number of sales is up 13%.
In the DeForest area, we saw 351 sales in 2018, which is down 14% from the figure we saw in 2017. However, the average sale price increased by 2% to $306,000. Over the last five years, the number of sales has gone up by 20%, while the average sale price has increased by 21%.
“Total sales may have dropped, but home prices have continued to increase.”
For Sun Prairie, we’ve had 860 home sales in each of the last two years. The average sale price has increased by 7% from 2017 and is now up to $287,000. In the last five years, the number of sales in Sun Prairie has increased by 16%, while the average sale price has gone up by 20%.
While total sales are flat or have dropped, home prices continue to increase, and we’ve had a great run for the last five years. If you’re a home seller, you’re in great shape. If you’re a buyer, I’d consider getting into the market when it’s slower, like it is now, and before prices start to ramp up even higher come February and March.
If you have any questions for me about the value of your home in today’s market or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.