Home sales slip in April

Dane County sales of existing single-family homes and condos fell 17.7% in April compared to April 2013. It was the fourth straight month of year-over-year sales declines. In April, according to the South Central Wisconsin MLS, 564 existing properties were sold in Dane County, compared to 685 a year earlier. The median sales price increased slightly, to $205,000 year-to-date through April (1.5%).

Sellers still have an advantage with respect to Dane County existing homes priced under $400,000 because the supply, measured at the current rate of sales, is only 3.4 months, but buyers have the edge when it comes to homes priced at $400,000 and above, for which there is an 11-month supply.

Year-to-date through April, Dane County’s existing home and condo sales are down 10% compared to the same period in 2013, which was a particularly robust year for home sales.