March 2010 Green County Market Report

Market report time. What happened with the County, Wisconsin real estate market last month?

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

• 19 homes sold in March of 2010,
• The homes were on the market for an average of 110 days,
  
• The average sale price was $128,452,
  
• The median sale price was $110,000,
  
• The highest priced property sold was $358,000,
  
• The lowest priced property sold was $25,000.

Let's compare with March of 2009:

• 25 homes sold in March of 2009,
• The homes were on the market for an average of 112 days,
• The average sale price was $142,654,
• The median sale price was $1118,500,
  
• The highest priced property sold was $513,500,
  
• The lowest priced property sold was $25,000.

Days on market has stayed steady, and the the change in median sale price was pretty minimal. Steady is a good thing.

Out of curiosity, I pulled the same statistics from 2003, a time when no one was complaining at all about a real estate market prices.

• 26 homes sold in March of 2002,
• The homes were on the market for an average of 85 days,
• The average sale price was $108,042,
• The median sale price was $109,000,
  
• The highest priced property sold was $225,000,
  
• The lowest priced property sold was $30,000.

Median sale prices, average sale prices, and highest priced property are all significantly higher in 2010 than eight years ago. This is what happens with regard to pricing throughout history. Seeing that the trend is continuing, even with the difficulties we've had in the real estate market over the last few years, it is good.

Homes are staying on the market longer now, which is a reflection of the fact that we still have a higher inventory of homes for sale. We are still working our way through the extra inventory of homes that did not sell during the winter of 2008-2009.

Peeking ahead at April, 5 homes have already sold this month as of today, only the eighth day of the month. 24 homes are currently pending sale. Let's see how the month keeps going. I personally think that the Home Buyer's Tax Credit has been a helpful thing for real estate in our area after we got through the depths of winter.