April 2010 Green County Market Report

Another month has ended, so it is time for monthly report on the Green County, Wisconsin real estate market.

Regarding the number of single family homes that sold in Green County in February of 2010:

• Only 5 homes sold in February of 2010,
• The homes were on the market for an average of 119 days,
  
• The average sale price was $157,180,
  
• The median sale price was $131,900,
  
• The highest priced property sold was $275,000,
  
• The lowest priced property sold was $57,500.

Let's compare with February of 2009:

• 12 homes sold in February of 2009,
• The homes were on the market for an average of 100 days,
• The average sale price was $,191,858
• The median sale price was $128,036,
  
• The highest priced property sold was $525,000,
  
• The lowest priced property sold was $47,000.

There was obviously a difference here, and I think that the weather can account for a good deal of it. No one likes to look at homes when the weather is cold, when there are multiple feet of snow on the ground. The only people who look for homes in these conditions are those who absolutely need to purchase something. Buyers like to be able to see something of the yard and get a look at the foundations of homes. In previous years, we had a late January snow melt, and the phone starts to ring when the snow melts. This year, it was cold and snowy all the way through February.

I took a minute to check pending home sales for Green County. Sure enough, there are already 15 homes pending sale. This means that the home has an accepted offer on it, all contingencies have been met, and the buyer and seller are just waiting for the closing date. 25 homes sold in March of 2009. We are only on the 10th day of the month, yet 2 homes have already sold and another 15 are pending sale.

I do believe that we will be back on track in March.