Fewer home sales in October

The South Central Wisconsin MLS reports that sales of existing homes and condos in Dane County fell 11% in October compared to October 2015 (a banner month, with the most October sales on record).

Except for last year, this October’s 537 sales were the most since October 2004 and fewer homes were on the market, as inventory remains extremely tight at just 2.39 months.

Dane County’s average sale price increased from $269,688 in 2015 to $270,993 while the median home price jumped from $232,250 a year ago to $240,000 this year. Year to date through October, new listings trail 2015 (8,876 to 8,569) but the number of sales increased from 7,008 to 7,020.