Here you'll find the latest on what's happening with the housing market.

If you're currently interested in buying or selling a home, you're probably wondering: what's going on in the real estate market right now? Inventory is tight and prices are on the rise, but all hope is not lost for buying a home. Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale.

 

What's going on in the market here in Dane County?

Interest rates are still bouncing around near historic lows and we're still short on inventory, so sellers continue to have a big advantage with median home prices skyrocketing. The number of sales has decreased due to the low inventory; April and May saw the fewest same-month home sales we've seen since 2014 and was also…

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Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale.  

What was the Dane County real estate market like in 2016? What can we expect for the rest of 2017?

In 2016, we set a new record for the all-time number of sales for single-family homes as well as single-family condos, finishing the year with 8,073 sales. December was also a record month with 17% higher sales than December 2015.

The best part? We accomplished this with a restricted amount of inventory. That restricted inventory put pressure on prices which resulted in an increase in the median sales price of about $13,000. At the end of 2016, we had a supply of 1.78 months of homes and condos. This was 25% less than…

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Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale.

 

One of the most common questions realtors get asked is, “How is the market?” Now that we have June's stats, let me give you an update. 

We are currently in a seller’s market, meaning sellers definitely have the advantage over buyers. This is measured by our level of inventory, or absorption rate. It’s a measurement of how long (given the numbers of sales over the past year) it would take all the homes currently on the market to sell if no more were listed or expired. While a balanced market is around 6 months inventory, we currently only have a 2.37 month supply in Dane County.

Compared to this time last year, we…

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