Out with the Old and In with the New!
Our Market in Southern Wisconsin has shown some encouraging signs in the last half of 2011. Single Family Home Sales in our immediate local market of Rock County, Wisconsin Increased by 25% in the last six months of the year compared to the last six months of 2010. And that is without all of the numbers in yet! Those last 6 months of 2011 produced 738 sales as of this last day of the year, versus 590 for the same period 2010.
Finally, in addition to sustained growth in sales, average sales prices did not decline for the period over last year. As a matter of fact, they increased slightly.
Short Sales and REO's accounted for 24% of the number of sales in the last 6 months; identical to last year. However, This year short sales were about 16% of that total versus approximately 7% last year. It looks like the lenders have improved their processes for approving short sales. Plus, I think they have seen the value of a short sale over foreclosure. Our Short Sale prices are about 30% higher than those sold as REO (Bank Owned) properties.
If tighter lending requirements were loosened a little, and interest rates stay low, we could see a year of improvement for 2012.
Happy New year to All!
Jerry Morse, Broker
The Morse Company
Staticscal Source: RockGreen MLS
Real Estate activity for Single Family Home sales in Rock County, Wisconsin have shown a 4 Month Improvement.
From August 1, 2011 to November 30, 2011:
The number of Single Family Home sales have increased 27% over the same period last year (2010). In 2010 there were approximately 406 Sales versus approximately 518 Sales in 2011.
The average sale prices also increased almost 4% over the same period last year. In the 4 month period last year (2010) the average sales price was approximately $105,257. For the last 4 months (August through November 2011) the average sales price was approximately $109,177.
After 4 years of declining prices and diminished activity, it is refreshing to see 4 months in a row of improving market conditions. Whether this indicates a long term trend remains to be seen. It might be a sign that prices have bottomed out! For a market place that had the highest unemployment in our state a year ago we needed a positive sign.
Good news for Now!
Jerry Morse, Real Estate Broker
Source of Information: SCWMLS
Last Year was the year of the "Homebuyer's Tax Credit" In our market if forced a large number of sales into the First Half of the Year when it ended. This is the year of return to actual market conditions.
Our Rock County, Wisconsin single family homes sales in the First half of 2011 fell behind the First half of 2010 as expected. So what has been going on since July 1, 2011?
Home sales have surpassed the number of homes in 2010 for July, August, September and October by about 30%.
In fact, Single Family home sales for the last three months have increased from 314 to 407, a 30% increase!
Better yet, home prices have increased 4%, this year over last year! This is the 1st period where we have seen home prices rise in our Market Place since the recession began three years ago. Three months does not mean the market is well. But, it may be a sign that there is some stability and maybe even that prices have bottomed out.
It is a great time to buy with good prices and low interest rates hovering around 4%. There is nothing quite like owning your own home!
Good News for us!
Jerry Morse, Real Estate Broker
The Morse Company, 608 754-5300
jerrymorserealestate@yahoo.com
Source: Rock Green Realtors Association MLS
OPEN SUNDAY, AUGUST 21, 2011
12:30 TO 2:00 PM
512 E. BELOIT, ORFORDVILLE, WI 53576
This is that cozy, comfortable, easy to Maintain 2 Bedroom Home you have always been looking for!
Owner has done many upgrades in the last eleven years to help make this home maintenance free.
Finished basement has a Great Rec Room with lots of storage and a full bath.
The pretty back yard has a storage shed and great garden space.
Located in Orfordville with easy commutes to Beloit, Janesville, Brodhead or Madison, WI
Priced at only $105,900
CALL JERRY MORSE FOR DETAILS
608 754-5300
EQUAL HOUSING OPPORTUNITY
Sometimes Ranches are just Ranches!
But this one is Special!
94 S. HARMONY, JANESVILLE, WI
This immaculate Three Bedroom Ranch has natural Hardwood floors, Great kitchen Dining Area, Formal Dining Room, Three Seasons Room, Remodeled Master Suite, 4 Baths, and a Great Fireplace.
Enjoy your morning cup of coffee on the Master Suite Deck!
Living Room Entertaining with a Fireplace.
It is Three Season Room time!
I have too many good pics for One Blog.
Call me for more information on this spacious ranch, priced at only $229,900.00
Jerry Morse
The Morse Company
608 436-4900
EQUAL HOUSING OPPORTUNITY
 |
|
|
Where Clients Come First! Choose the Agent with a Real Estate Degree!!! Friendly Professional Service!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
