Madison area home supply is tracking below last year's levels; condo supply is running higher. Here's a quick inventory snapshot for May 6th, along with a preview of how growing supply will impact buyers and sellers this summer.
Dane County single family homes
As of May 6th, 582 homes were listed for sale (without an accepted offer), compared to 608 homes at the same time last year. Currently, 1.4 months of supply are available for sale in the Dane County single family home market.
Dane County condos
As of May 6th, 208 condos were listed for sale (without an accepted offer), compared to 190 condos at the same time last year. Currently, 1.8 months of supply are available in the Dane County condo market.
How will supply levels change in the months ahead?
Note from the charts above that home and condo supply will rise steadily throughout the summertime and into the fall season. Knowing this seasonal trend is important for both buyers and sellers.
If you're a buyer who hasn't found your dream home yet, now is the time to stay the course and remain committed to your search. You'll experience more opportunities to buy in the months ahead, and with less competition from other buyers.
If you're a seller, this is the time to make sure your pricing, staging, and marketing are on the mark. Buyers will have more properties to choose from in the coming months, so you'll want your listing to stand out relative to your competition.
Mad City Dream Homes is here to help.
Reach out with your questions about the summer market. Whether you're buying or selling, we'll help you create a good plan for accomplishing your real estate goals in the weeks and months ahead.
