April and May Dane County Condo Update

Posted by Dan Miller, REALTOR on Monday, May 27th, 2019 at 7:06pm.

Here's the latest scoop on the Dane County Condo market - hot off the presses. 

Inventory

As of May 20th, there are only 1.4 months of condo supply across all price categories, with 47% of all Dane County condo listings under contract. The under $250,000 market is extremely hot. 

New listings

New MLS listings continued to enter the market at a slow pace in April. Listings decreased by 11% from April of 2018 and 14% year-to-date. 

 New Dane County Condo Listings April 2019

Accepted offers

Accepted offers were down 2% from April of 2018 and 12% year-to-date. 

Dane County Condo Accepted Offers April 2019 

Sold listings

Dane County condo sales decreased by 14% in April and 8% year-to-date. 

 Dane County Sold Condo Listings April 2019

Condo price per square foot

The price per square foot increased by 9% in April and 1% year-to-date. 

Dane County Condo Prices April 2019 

Average condo price

In April, the average Dane County condo price was up by 12% from last April and even with 2018 on a year-to-date basis. 

Dane County Condo Prices April 2019 

Days on market

The average days on market dipped to a new low in April and reached a record low on a year-to-date basis, too. 

Dane County Condo Days on Market

Putting it all together

Even though sales are lower in 2019, prices remain strong due to a general shortage of condos in Dane County. Condos priced under $250,000 are in high demand from buyers of all ages. Buyers have more selection in higher price points, however, which makes 2019 a good market for buyers who are either "down-sizing" or "up-sizing" into a higher-end condo.

Of course, every situation is unique. Get in touch with one of our full-time real estate agents to discuss your condo buying and selling goals. We'll help you make sense of your market and move forward with confidence in 2019. 

This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred
610 Junction Road #205, Madison, WI, 53717

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