Dane County home sales decline, median price rises

August homes sales declined by nearly 4% to 896 in Dane County from the same month a year ago, but the median price of a new home increased 3.7% to $280,000, according to the Wisconsin Realtors Association.

The WRA’s most recent analysis of the home market says Dane County home sales were down from the 931 reported in August of 2017. Meanwhile, the median price rose from the $270,000 reported last year, and housing inventory tightened from a four-month supply to a 3.5-month supply. The average number of days that Dane County homes remained on the market also dropped from 87 days in August of 2017 to 81 days in August of this year.

Statewide, housing inventories further tightened in August, putting strong upward pressure on home prices. However, that did not prevent a strong economy from influencing a solid 3.3% increase in Wisconsin home sales.