January and February Green Cty Wi Real Estate Market report

I realized today that it has been a while since we did a comparative market report for the Green County, WI area:

• 45 homes sold though the MLS in January and February of 2011,
• The homes were on the market for an average of 102 days,
  
• The average sale price was $116,028,
  
• The median sale price was $109,900,
  
• The highest priced property sold was $363,587,
  
• The lowest priced property sold was $10,000.

Let's compare with January and February of 2010:

• 21 homes sold through the MLS in January and February of 2010,
• The homes were on the market for an average of 141 days,
• The average sale price was $158,385,
• The median sale price was $129,900,
  
• The highest priced property sold was $333,500,
  
• The lowest priced property sold was $57,500.

Our interpretation of these numbers? The average and median home prices have dropped due to the larger number of less expensive foreclosure homes that have been moving. 22 of these 45 homes sold in January and February were under $99,999.

These numbers also mesh very well with what we have been seeing personally in the real estate market so far this year - things are starting to move again. This is not only true for single family homes. When we look at commercial properties, 4 sold through the MLS in January-February of this year, but only 1 in the same time last year. 3 parcels of vacant land sold this year compared to one last year; 3 multi-family properties have sold this year compared to none last year. The only class that sold better last year was condos: 1 this year compared to 4 last year.

Taking a look at the future, there are 17 single family properties currently pending sale in the MLS. That means that all contingencies have been removed and the parties are just waiting for the closing date. 22 single family homes are also listed as having an offer that still has contingencies. We like seeing those kinds of number in Green County again.

Let's keep real estate recovery going here in Cheese Country.