We’re now half way through 2021 and our market shows no signs of slowing down. More inventory has been added in recent months, which has slightly eased pressure on buyers. However, we are still in a “seller favored” market, and the supply of “entry level” homes under $200,000 remains very low. Home prices continue to rise across south central Wisconsin, with the highest increase seen in Dane County. Interest rates remain low, and likely will continue to hover around the 3% mark for the near future. Click here to see a full report for all of south central Wisconsin with statistical graphs from the RASCW and SCMWLS. So what does…

Home Sales Home sales were down about 25% from this time last year. This is not at all surprising, given the continuing COVID-19 situation and tighter housing inventory. Only 651 homes (condo and single family) sold in Dane County the past month, compared to 871 homes in the same categories last year. Inventory Inventory has hovered around the 2 month mark, and we are still in what is considered a “seller’s market”. Inventory for May 2019 was 2 months of supply, while this past month saw inventory levels of 2.39 months of supply. Home Prices The average sold price of single family and condo homes in Dane County was $343,303…

The month of May sees us approaching the end of the second month of the safer at home order in our area. While it’s likely had a significant impact on your lifestyle, what impacts has it had on our local real estate market and how we work?  We’ve definitely seen a decrease in real estate activity since the start of this public health crisis, but business is still moving. Thanks to the technology and modified practices available to us, homes are still being listed and sold, even if they are fewer in number. Our inventory has gotten tighter, as some sellers are holding off on listing their home until things…

This month’s market update will be a slight break from tradition, given that we are facing some unprecedented and unique challenges in our current market due to the public health crisis caused by COVID-19. Since real estate is considered an essential service – what could be more essential than the roof over your head! – we are still here to serve you and your real estate needs. We are adapting to the ever-evolving situation as updates become available and we are utilizing all of the technology at our disposal to offer contact-free transactions whenever possible. Here are some of the steps we are taking to safeguard the health of our…

Home Sales Home sales remained slower for the month of February, and fell slightly from this time last year too. This is due in part to the low supply of homes in our area. Inventory continues to be a problem for would-be home buyers, but should hopefully start to ease, with the busier spring market starting to ramp up. Inventory Inventory continues to be an issue in Dane County. With tight inventory, homes tend to sell quickly, especially lower – average priced homes. Competition for these homes tends to be high and buyers should be prepared to write competitive offers and willing to negotiate. Home Prices The average sale price…

Home Sales Home sales fell off significantly for the month of January, though if we look at historical data it seems to be pretty typical of this time period. This time of year is generally the “calm before the storm” as home sales ramp up heading towards the busy Spring and Summer markets. Inventory Inventory in Dane County has eased slightly over this time last year, but is still hovering around the two month mark. With inventory tight, the market favors sellers, and buyers should be prepared to write competitive offers if they want to snag the right home for them. Home Prices The average sale price of homes in…