Wisdom and South Central Wisconsin Real Estate information

Posts tagged ‘Sun Prairie Wisconsin’

It has been a good year for real estate in Dane County this year

English: The Dr. Charles G. Crosse House in Su...

English: The Dr. Charles G. Crosse House in Sun Prairie, Wisconsin, a registered historic place. (Photo credit: Wikipedia)

It has been a good year for real estate in Dane County this year. Sales have increased 25% this year over the last year. Record low interest rates have helped to keep things moving along. Inventories have decreased and in some markets there is a shortage of homes. Over all prices have not increased and there is still a continual flow of bank owned inventory. Now is a great time to buy or invest. Most rental properties will easily cash flow. There has been a good stream of homes under $100,000 which would be good to purchase to rent and hold until the market picks up again as an investment. There is also plenty of opportunity to flip with returns as high as 50% possible. If you are looking to sell the odds of selling have increased greatly. Surrounding counties have also picked up. If you would like to see some stats click on Dave Stark’s news letter in the upper left blog roll and check out the most recent November news letter.

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Tough Market for 4 Unit Rental Properties in Sun Prairie

Tight lending requirements have hurt investment rental propertie sales over the last few years with only the best cash flow properties selling. Property values as well as sales in the area appear to be relatively stable. Per the South Central MLS, in Dane County there have only been 7 sales of 4 unit rentals under 30 years of age in the last year with a median sale price of $300,000. There is 55 months of inventory of 4 units under 30 years of age in Dane County with a 1% odds of selling in the 1st month. In Sun Prairie there have been 4 sales ranging from $225,000 to $345,000. The average sale price was $283,875 the median sale price was $282,500. There is a large gap between sales and listings with listings ranging from $$350,000 to $480,000. The average list price is $383,399 and the median list price is $379,900. There is 27 months of inventory 4 units under 30 years of age in Sun Prairie. 25% of sales have been bank owned properties. There currently are no bank owned properties listed for sale. 11% of active listings are short sales (1). Investment properties often sell by word of mouth or through area investment clubs were owners are looking to increase tax deductions with higher depreciation deductions by tax deferred exchanges.

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