September was a great month for Madison area home and condo sellers, as the Dane County real estate market set a number of new records last month. Here's our short summary of the latest market trends from the month of September.
The Madison area single family home market
New MLS listings increased by 16% in September and reached their highest level since 2008.
Buyers responded to the new supply of listings by writing a record number of offers. Accepted offers increased by 27% year-over-year and set a new record for the month of September.
Home sales also reached a new high and increased by 40% from last September.
Madison area home prices set a new record last month, increasing by 9% year-over-year.
The Madison area condo market
New condo listings increased by 19% in September and were at their highest level since 2010.
Buyer activity was very brisk in September. Accepted offers increased by 26% year-over-year and reached the second highest level on record.
Condo sales also reached the second highest level on record, increasing by 63% year-over-year.
Condo prices increased by 9% from last September and set a new record in Dane County.
It's still a great market for Madison area sellers
Although it goes against popular thinking, the fall season is proving to be a very favorable market for local home and condo sellers. Many properties are receiving multiple offers and are selling very quickly.
Do you have questions about how to best sell your home or condo in today's market? Please reach out to your go-to Mad City Dream Homes real estate agent. We'll lay out a plan that will help you take full advantage of this year's sellers market.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred