Oddly, though, one thing that doesn't seem to be changing very drastically is the state of the real estate market in the greater Dane Country region. Spring and summer home sales were fast and furious. In fact, August home sales in Wisconsin saw the strongest numbers since 2005, with a whopping nine percent jump over August, 2015. In Dane County, our numbers stayed pretty much static compared to last year's home sales, but the median sale price increased by 6.1 percent to $244,000.
As with the past year, home sale prices are being driven up by a lack of inventory in the marketplace. Obviously, this makes autumn a perfect time to list property. And those who are in the market to purchase a home are in luck, too. Not only is it a beautiful time of year to drive around and look at potential new homes, but the current interest rates are incredibly low. According to the Wisconsin Realtors Association, a 30-year fixed-rate mortgage this past August was at 3.44 percent, about a half percent lower than August 2015.
Fall is the perfect time for sellers to consider listing a home. As always, I'm here to help!