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This update covers Dane County commercial and business real estate from the South Central Wisconsin MLS.
Inventory
As of June 30th, over $138 million in commercial and business real estate was listed on the South Central Wisconsin MLS. With over $13.7 million selling in the previous 12 months, the months of inventory for commercial and business real estate stood at 120.5 months.
Sold and Expired Listings
The sold dollar amount for commercial and business real estate has decreased in recent months compared to months past. The expired dollar amount has also decreased. Almost $13.8 million in commercial and business real estate sold during the 12 month period that ended on May 31st, compared to $16.2 million from the prior 12 month period - a decrease of 15.2%. Eight transactions were recorded in May - for a total of $1,035,900. Meanwhile listings totaling $136.7 million expired during the 12 month period that ended on May 31st, compared to $170.3 million during the previous 12 month period - a decrease of 19.7%.
Sold and Expired Listings - Recent History
The peak year for commercial and business real estate sales was 2005, when $56.6 million sold. Annual sales totaled close to $25 million over the next 3 years, but then plunged to $13 million in 2009. The expired dollar amount had increased for five straight years prior to 2009. In 2009, the expired dollar amount decreased by 4.7% from 2008.
Listing Success Rate
The listing success rate for commercial and business real estate has increased slightly in recent months. The success rate for the 12 month period that ended on May 31st was 9.1%, compared to 8.7% during the prior 12 month period.
Listing Success Rate - Recent History
The listing success rate for commercial real estate peaked in 2005, when the rate was 43%. The success rate then decreased for 4 straight years and ended the 2009 year at 8%.
About us
This information is provided courtesy of Dan Miller and Shawn Kriewaldt of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact Dan at 608-852-7071 (danielmiller@kw.com) or Shawn at 608-212-5743 (shawnkriewaldt@kw.com). Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.
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