Dane County April and May Real Estate Update

Posted by Dan Miller, REALTOR on Wednesday, May 15th, 2019 at 9:55pm.

The Dane County real estate market got off to a sluggish start during the first 3 months of the year, as single family home accepted offers decreased by 15% from the year before. However, buyer activity picked up significantly in the month of April. Here's our update on the latest real estate trends in Dane County.

Accepted offers

Buyer activity in April was more in line with what we expect to see in a spring market. A total of 680 single family home listings received accepted offers in April, down just 4% from the year before. 

Madison Area Accepted Offers April 2019

New listings

New single family home listings continued to enter the market at a slow pace, which is great news for sellers. New listings decreased by 9% in the month of April and 10% year-to-date. 

Madison area single family home MLS listings 

Months of Inventory

Our inventory snapshot taken in the middle of May shows single family home supply is especially tight in the $150,000 to $300,000 price range. Well over 50% of the listings in this price range have accepted offers. Months of inventory are very low, with less than 1 month of single family home supply for listings priced between $150,000 and $300,000.  

Dane County Single Family Home Supply May 2019

Average price

Dane County home prices set a new record in April and increased by 5% from the year before. Prices are up by 4% year-to-date. 

Dane County Single Family Home Prices April 2019

Price per square foot

The price per square foot also reached a new high in the month of April, increasing by 1% for the month and 2% year-to-date.  

Dane County Home Prices April 2019 

Home Sales

Due to lower buyer activity during the first quarter, closings decreased by 8% in April and 7% year-to-date. 

Dane County Single Family Home Sales April 2019 

Days on Market

Days on market have increased each of the first 4 months in 2019, and are up by 6 days year-to-date. 

Dane County Single Family Home Days on Market April 2019

Need more information on your local real estate market? 

Contact your go-to Mad City Dream Homes REALTOR, and stay tuned for our Dane County condo update, which we'll be publishing very soon. 

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

Leave a Comment

Format example: you@domain.com
Format example: yourwebsitename.com

Sign up for email updates