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Home Sales Report September 2016

Video

October 17, 2016

Could It Be a Record Year?

With September sales of Dane County homes and condominiums up 13% over last year, 2016 year-to-date sales are now slightly ahead of 2015 – a year that just narrowly missed setting an all-time record. Could 2016 not only exceed 2015 but also 2005, the current record year?

Through the first 3 quarters, there are interesting comparisons between the 3 years:

Year-to-Date January 1 – September 30

2005 2015 2016

Sales 6539 6406 6467 Median Price $207,900 $230,000 $245,000 Active Listings * 3636 2064 1564 Supply of Inventory 5.35 mos. 3.21 mos. 2.34 mos. 30 Yr. Interest Rate 5.77% 3.89% 3.46%

* Active listings as of September 15

The final figures for 2005 and 2015 were:

Annual January 1 – December 31

2005 2015

Sales 7981 7936 Median Price $210,000 $231,125Active Listings * 4031 1591 Supply of Inventory 6.06 mos. 2.41 mos. 30 Yr. Interest Rate 6.27% 3.96%

* Active listings as of December 15

September Home Sales Report

- continued -

- page 2 -

It’s hard not to note a couple of significant differences in the market in 2005 compared to today. Interest rates were substantially higher – over 6% at year-end according to Freddie Mac. The inventory of available homes was also much higher – representing a more balanced market between buyers and sellers in 2005.

Over the past 5 years, during which the process of recovery in the housing market has taken place, the fourth quarter has accounted for just slightly less than 20% of the annual sales. In 2005 and 2015, the fourth quarter represented 18% and 19% of the annual sales. Using these figures, we project 2016 sales to fall between 7900 and just over 8000. A record year could indeed be in the making.

The balance of the South Central Wisconsin MLS market region is generally enjoying an active market as well, led by double digit year-to-date sales increases in the Green Lake/Adams/Marquette/Waushara and Sauk/Columbia/Dodge County regions. Median prices are up in all counties year-to-date with the sole exception of Green County, which is down less than 1%. The supply of active inventory stands at 5.9 months throughout the region (excluding Dane County).

For the fourth quarter expectations continue to be positive. Economic conditions – particularly job growth - continue to show improvement. Mortgage rates continue to be at historic lows – at least for now. The favorable fall weather conditions, even with the shorter days, make it easy for buyers in the market to get out and look at available homes. Although inventory in many markets is yet very lean, it has stabilized over the past three months. And the elections will soon be over.

There is still time if you are thinking of buying or selling!

2016 2015 2014 2016 2015 2014

69 90 100 890 1,032 979

71 78 58 658 615 523

238,784 195,348 192,925 197,872 179,421 166,327

186,900 151,600 144,500 174,450 157,500 147,500

351 485 581 351 485 581

2016 2015 2014 2016 2015 2014

771 714 657 8,014 8,213 8,090

664 588 573 6,467 6,406 5,625

273,249 278,453 255,731 275,139 262,138 250,098

240,000 240,000 225,000 245,000 230,000 220,000

1,564 2,064 2,700 1,564 2,064 2,700

2016 2015 2014 2016 2015 2014

216 193 235 2,208 2,297 2,332

205 186 162 1,772 1,640 1,443

150,954 140,819 131,112 147,756 131,287 126,372

139,600 124,950 126,500 136,325 124,000 119,000

574 829 1,051 574 829 1,051

South Central Wisconsin MLS Sold & Active Residential Listings (Including Condos)

Average Sale Price

Median Sale Price

COLUMBIA COUNTY

# New Listings

# Sales

Average Sale Price

Median Sale Price

# New Listings

# Sales

SEPTEMBER 2016 STATISTICS JANUARY - SEPTEMBER

Current sales reported as of October 13, 2016 - More MLS statistics are available at CBSuccess.com.

NOTE - This representation is based in whole or in part on data supplied to the South Central Wisconsin MLS Corporation by its Participants.

The MLS does not guarantee and is not responsible for its accuracy. Data maintained by the MLS does not reflect all real estate activity in the market.

Total # Active Residential Listings at end of Period

DANE COUNTY

Total # Active Residential Listings at end of Period

Total # Active Residential Listings at end of Period

ROCK COUNTY

# New Listings

# Sales

Average Sale Price

Median Sale Price

*Sales for the month & current active listings are reported as of 10/13/16. The Current Active Listings Chart includes all listings available for showings, including those with

offers to purchase. This representation is based in whole or in part on data supplied to the South Central Wisconsin MLS Corporation by its Participants. The MLS does not

guarantee and is not responsible for its accuracy. Data maintained by the MLS does not reflect all real estate activity in the market.

61 1

92 7

108 12

170 17

181 22

204 24

236 26

207 26

402 58

480 53

405 74

447 62

389 56

769 112

661 88

780 138

376 65

383 26

149 12

119 2

6,619 881

267,516 241,837

199,500 204,900

Average price

less than 30,000

Condo/

Co-Op

PRICE

CLASS/TYPE

500,000 - 749,999

750,000 - 999,999

over 1,000,000

Total Types

200,000 - 249,999

250,000 - 299,999

90,000 - 99,999

100,000 - 119,999

300,000 - 399,999

400,000 - 499,999

120,000 - 139,999

140,000 - 159,999

160,000 - 179,999

180,000 - 199,999

30,000 - 39,999

40,000 - 49,999

50,000 - 59,999

60,000 - 69,999

70,000 - 79,999

80,000 - 89,999

Single

Family

CURRENT ACTIVE LISTINGS

Median price

17 7 4

13 7 12

10 10 1 1

11 16 0 4

11 18 3 4

5 10 1 7

17 15 5 10

8 81 11 6

22 64 11 19

72 95 02 18

21 57 19 33

18 64 20 18

6 75 19 20

13 154 65 24

9 74 52 15

5 66 71 18

1 8 33 4

2 10 27 3

0 3 4 0

0 1 3 0

206 718 371 206

129,883 200,523 287,195 182,772

118,500 187,225 254,000 159,450

TOTALS REPORT

SOLD RESIDENTIAL LISTINGS

PRICE CLASS/TYPE

less than 30,000

30,000 - 39,999

40,000 - 49,999

50,000 - 59,999

60,000 - 69,999

70,000 - 79,999

80,000 - 89,999

90,000 - 99,999

120,000 - 139,999

140,000 - 159,999

over 1,000,000

Total Types

0-2

Bedroom

3

Bedroom

300,000 - 399,999

500,000 - 749,999

750,000 - 999,999

160,000 - 179,999

400,000 - 499,999

MEDIAN PRICE

4+

Bedroom

Condo/

Co-Op

AVERAGE PRICE

180,000 - 199,999

200,000 - 249,999

250,000 - 299,999

100,000 - 119,999

0

100

200

300

400

500

600

700

800

900

1000

1100

1200

1300

1400

1500

1600

1700

1800

1900

2000

2100Num

ber o

f Hom

es Sold

Single Family Solds (Inc Condos)Reported by the South Central WI MLS as of 10/13/2016

Dane County Adams, Columbia, Crawford, Dane, Dodge, Grant, Green, Green Lake, Iowa, Lafayette, Marquette, Richland, Rock, Sauk, Vernon & Waushara Counties

Dane County SalesSeptember 2016 ‐ 664September 2015 ‐ 588 September 2014 ‐ 573

Regional County SalesSeptember 2016  ‐ 1,316September 2015  ‐ 1,233September 2014  ‐ 1,137

$100,000

$110,000

$120,000

$130,000

$140,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

$260,000

$270,000

$280,000

$290,000

$300,000

Median Sale Price for Single Family Solds (Inc Condos)Reported by the South Central WI MLS as of 10/13/2016

Dane County Adams, Columbia, Crawford, Dane, Dodge, Grant, Green, Green Lake, Iowa, LaFayette, Marquette, Richland, Rock, Sauk, Vernon & Waushara Counties

Dane County MedianSeptember 2016 ‐ $240,000September 2015 ‐ $240,000September 2014 ‐ $225,000

Regional County MedianSeptember 2016 ‐ $191,000September 2015 ‐ $181,500September 2014 ‐ $168,050

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

7,500

8,000

8,500

9,000

9,500

10,000Num

ber o

f Active Listings

Available Single Family Homes (Inc Condos)Reported by the South Central WI MLS as of 10/13/2016

Dane County Adams, Columbia, Crawford, Dane, Dodge, Grant, Green, Green Lake, Iowa, Lafayette, Marquette, Richland, Rock, Sauk, Vernon & Waushara Counties

Dane County InventorySeptember 2016 ‐ 1,564September 2015 ‐ 2,064September 2014 ‐ 2,700

Regional County InventorySeptember 2016 ‐ 5,135September 2015 ‐ 6,555September 2014 ‐ 8,110

0

1

2

3

4

5

6

7

8

9

10

11

12

Mon

ths o

f Inven

tory

Months Supply of Inventory for Single Family Homes (Inc Condos)Reported by the South Central WI MLS as of  10/13/2016

Dane County Adams, Columbia, Crawford, Dane, Dodge, Grant, Green, Green Lake, Iowa, Lafayette, Marquette, Richland, Rock, Sauk, Vernon & Waushara Counties

Dane County SupplySeptember 2016 ‐ 2.34 Months  September 2015 ‐ 3.19 MonthsSeptember 2014 ‐ 4.66 Months

Regional County SupplySeptember 2016 ‐ 4.05 MonthsSeptember 2015 ‐ 5.38 MonthsSeptember 2014 ‐ 7.41 Months

Months Supply = current inventory divided by the average sales for the most current 12 months

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Real Estate Market Statistics—Sept 2016

Information provided by the SCWMLS and is based on Single Family Homes and Condos as of October 12, 2016.

Deforest School District

# New Listings 24 373 25 321

# Sales 28 322 32 272

Average Sale Price $301,117 $271,367 $247,370 $236,985

Median Sale Price Single Family $307,500 $264,908 $258,500 $232,500

Median Sale Price Condo $144,450 $163,450 $141,500 $154,950

Total # Active Residential Listings at end of period

76 78

Lodi School District

# New Listings 18 168 12 190

# Sales 17 113 13 120

Average Sale Price $375,076 $272,809 $354,215 $260,424

Median Sale Price Single Family $281,800 $250,500 $248,450 $245,000

Median Sale Price Condo $260,000 $256,000 $550,000 $263,500

Total # Active Residential Listings at end of period

80 99

Edgerton School District

# New Listings 34 309 31 301

# Sales 20 228 21 166

Average Sale Price $202,155 $171,936 $156,229 $146,408

Median Sale Price Single Family $205,750 $165,000 $132,000 $141,000

Median Sale Price Condo $155,500 $154,900 —- $115,000

Total # Active Residential Listings at end of period

106

Barneveld School District September

2016 2016 YTD September

2015 2015 YTD

# New Listings 2 27 3 38

# Sales —- 19 3 20

Average Sale Price —- $245,287 $218,633 $235,564

Median Sale Price Single Family —- $190,000 $164,000 $173,750

Median Sale Price Condo —- —- —- —-

Total # Active Residential Listings at end of period

9

Real Estate Market Statistics—Sept 2016

Information provided by the SCWMLS and is based on Single Family Homes and Condos as of October 12, 2016.

Mount Horeb School District

# New Listings 13 173 15 176

# Sales 22 122 17 114

Average Sale Price $307,332 $311,268 $251,889 $285,199

Median Sale Price Single Family $297,500 $275,500 $252,000 $250,900

Median Sale Price Condo —- $185,000 $239,900 $239,900

Total # Active Residential Listings at end of period

48 63

Stoughton School District

# New Listings 30 296 30 326

# Sales 30 261 22 249

Average Sale Price $238,915 $210,000 $250,484 $231,991

Median Sale Price Single Family $203,000 $220,000 $220,000 $214,900

Median Sale Price Condo $125,000 $117,450 $75,000 $137,450

Total # Active Residential Listings at end of period

53 91

Oregon School District

# New Listings 26 335 23 341

# Sales 24 251 19 276

Average Sale Price $279,505 $282,496 $336,014 $274,328

Median Sale Price Single Family $241,000 $270,000 $359,900 $254,250

Median Sale Price Condo $169,950 $187,000 $132,500 $162,000

Total # Active Residential Listings at end of period

78 84

McFarland School District September

2016 2016 YTD September

2015 2015 YTD

# New Listings 17 220 12 206

# Sales 24 207 21 184

Average Sale Price $310,609 $296,954 $286,723 $275,802

Median Sale Price Single Family $285,947 $262,121 $270,000 $256,966

Median Sale Price Condo $212,500 $271,400 $205,250 $209,250

Total # Active Residential Listings at end of period

37 50

Real Estate Market Statistics—Sept 2016

Information provided by the SCWMLS and is based on Single Family Homes and Condos as of October 12, 2016.

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Verona School District

# New Listings 35 418 40 434

# Sales 39 336 42 342

Average Sale Price $300,463 $294,555 $353,455 $292,680

Median Sale Price Single Family $340,000 $319,900 $370,631 $285,257

Median Sale Price Condo $182,500 $175,000 $164,000 $165,250

Total # Active Residential Listings at end of period

106 117

WI Heights School District

# New Listings 3 87 10 100

# Sales 5 68 2 53

Average Sale Price $175,280 $254,068 $300,000 $280,092

Median Sale Price Single Family $165,000 $224,950 $300,000 $236,800

Median Sale Price Condo —- $110,000 —- $80,000

Total # Active Residential Listings at end of period

25 45

Sun Prairie School District September

2016 2016 YTD September

2015 2015 YTD

# New Listings 70 815 59 767

# Sales 72 682 51 636

Average Sale Price $245,990 $241,904 $233,399 $229,911

Median Sale Price Single Family $255,000 $255,950 $271,500 $239,950

Median Sale Price Condo $144,900 $150,000 $139,000 $139,900

Total # Active Residential Listings at end of period

139 156

Real Estate Market Statistics—Sept 2016

Information provided by the SCWMLS and is based on Single Family Homes and Condos as of October 12, 2016.

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Middleton-Cross Plains School District

September 2016 2016 YTD

September 2015 2015 YTD

# New Listings 54 690 52 655

# Sales 55 491 40 469

Average Sale Price $357,082 $397,780 $340,832 $363,129

Median Sale Price Single Family $385,819 $415,000 $370,000 $391,650

Median Sale Price Condo $174,000 $157,500 $129,000 $135,000

Total # Active Residential Listings at end of period

176 172

Waunakee School District

# New Listings 33 414 46 418

# Sales 25 288 20 256

Average Sale Price $384,415 $364,354 $358,860 $349,190

Median Sale Price Single Family $386,200 $383,900 $410,500 $384,500

Median Sale Price Condo $235,000 $220,000 $172,000 $176,250

Total # Active Residential Listings at end of period

105 126

Fitchburg Home Prices—Sept 2016

Information provided by the SCWMLS and is based on Single Family Homes and Condos as of October 12, 2016.

Madison School District in Fitchburg

September 2016 2016 YTD

September 2015 2015 YTD

# New Listings 16 198 21 275

# Sales 16 181 16 181

Average Sale Price $297,056 $289,622 $265,772 $263,570

Median Sale Price Single Family $305,000 $319,750 $345,250 $295,000

Median Sale Price Condo $250,000 $209,900 $197,250 $190,306

Total # Active Residential Listings at end of period

31 74

Verona School District in Fitchburg

# New Listings 14 131 14 124

# Sales 14 81 15 96

Average Sale Price $378,590 $314,202 $359,833 $301,916

Median Sale Price Single Family $386,150 $302,000 $470,000 $247,750

Median Sale Price Condo $357,000 $176,000 $133,000 $189,500

Total # Active Residential Listings at end of period

34 33

Oregon School District in Fitchburg

# New Listings 1 25 2 42

# Sales 2 27 3 42

Average Sale Price $329,181 $290,996 $242,833 $261,525

Median Sale Price Single Family $329,181 $276,000 $246,000 $244,000

Median Sale Price Condo —- $294,500 —- $284,950

Total # Active Residential Listings at end of period

6 9

The city of Fitchburg is served by 3 school districts: Madison, Oregon, Verona

Madison High Schools—Sept 2016

Information provided by the SCWMLS and is based on Single Family Homes and Condos as of October 12, 2016.

Lafollette High School

# New Listings 62 715 64 759

# Sales 67 633 54 662

Average Sale Price $230,202 $212,132 $212,628 $200,408

Median Sale Price Single Family $222,000 $220,000 $199,500 $198,750

Median Sale Price Condo $158,900 $124,950 $195,000 $131,000

Total # Active Residential Listings at end of period

99 136

West High School

# New Listings 68 810 68 912

# Sales 64 681 64 695

Average Sale Price $292,791 $325,635 $328,909 $321,240

Median Sale Price Single Family $293,950 $319,300 $320,000 $299,900

Median Sale Price Condo $265,000 $237,000 $211,750 $227,500

Total # Active Residential Listings at end of period

185 227

Memorial High School

# New Listings 94 1,126 100 1,253

# Sales 93 1,016 81 1,021

Average Sale Price $267,426 $252,827 $245,825 $240,629

Median Sale Price Single Family $263,150 $270,000 $251,500 $252,500

Median Sale Price Condo $172,900 $155,900 $153,500 $142,500

Total # Active Residential Listings at end of period

198 293

East High School September

2016 2016 YTD September

2015 2015 YTD

# New Listings 90 711 63 725

# Sales 69 615 57 594

Average Sale Price $215,159 $228,332 $230,330 $206,284

Median Sale Price Single Family $185,000 $186,000 $188,500 $180,000

Median Sale Price Condo $146,000 $151,500 $151,200 $136,100

Total # Active Residential Listings at end of period

134 156

The city of Madison is comprised of 4 high schools.