The WRA's September housing report came out earlier this week, and the most obvious take-away is that the big price increases we saw earlier this year have had an effect on the autumn market.
June WRA housing report
Dated: July 22 2020
The coronavirus pandemic had an impact on June real estate sales, though the Wisconsin real estate market performed better than expected. Sales were down 4.5% from the previous June, an improvement over May, when sales slipped 24.3% from the previous May. Prices statewide rose 3.6% in June.
Dane County’s numbers trailed the statewide percentages, seeing June sales drop from 982 in June 2019 to 871 this year, a 11.3% drop. However, months of inventory for Dane County--an indicator of whether the market is trending towards buyers or sellers--dropped from 4.4 to 3.5 from June 2019 to June 2020. This shows, along with the 3.2% increase in median price for the the same periods, that the Dane County market is still a strong seller’s market (a balanced market is 6 months of inventory).
Despite the upheaval that the pandemic crisis has caused, the local and statewide markets are still very strong. Buyers are still competing for properties, and sellers are seeing a lot of them.
In November of 2000, I closed on my first house, a rough-around-the-edges 1922 colonial with lots of sun, not a lot of storage, and an enormous oak tree in its postage stamp-sized back yard. From the ....
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