October home sales spike in Dane County

The 586 Dane County sales reported for October are 18.9% more than 2014 and are the highest total for the month since 2004. Year-to-date, sales total 6,950, which is 13.6% ahead of last year and on pace to be one of the top three years of home sales ever.

The median sale price in Dane County for October was $230,000, the same as it is year-to-date. Compared to the median sale price for the first 10 months of last year, there is a 4.6% increase. The annual median sale price has demonstrated solid growth since 2012 and is exceeding the previous annual high of $218,000 set at the end of 2007.

New listings were also up — 4% for the month — but the higher volume of sales continues to keep the number of homes for sale very lean. Only 3.06 months of active inventory is now available compared to 4.5 months just one year ago.

Across the eight county primary market region of the South Central Wisconsin MLS, sales increased 3.8% in October and now stand 11.7% ahead of last year. The median price increased as well — up 7.2% for the month and 6.2% year-to date. All counties are equaling or exceeding 2014 in year-to-date sales and median prices.