Where are the hottest markets in Dane County? In this post we take a quick look at the larger markets in the western half of the county, specifically Fitchburg, Madison, Middleton, and Verona.
We use two key measures to gauge market momentum - months of supply and the percent of listings with accepted offers. When we use these two statistics there are two markets which stand out above the rest.
Dane County's Hottest Condo Market
Condos are selling very well across all of Dane County, but the Verona condo market is the market that stands out above all others. Right now there are only 1.5 months of condo inventory available for sale in Verona. Amazingly, 64% of the condo listings in Verona are under contract and are scheduled to close soon.
Dane County's Hottest Single Family Home Market
We tend to hear a lot of buzz about single family home buyers flocking to Middleton and Verona, but the hottest-selling local market is actually Madison. The average price point is much lower in Madison, and attractive to a very large group of buyers. As a result there are only 1.3 months of supply available in Madison, with more than 50% of all listings currently under contract.
How is the Market in Your Neighborhood?
Remember, all real estate is local. Give us a call, and we'll help you better understand your home's value in today's market. We'll also offer our recommendations for maximizing your selling price when it comes time to list.
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred