Dane County home and condo prices continued to post big increases in the month of July. Here's our latest snapshot.
Home prices were up by 12 percent.
The price per square foot increased from $189 in July of 2021 to $213 in July of 2022.
Condo prices were up by 17 percent.
The price per square foot increased from $180 in July of 2021 to $211 in July of 2022.
Where will prices go from here?
Keep in mind the July numbers are the result of offers that were written in the months of May and June, back when there was less inventory and more demand. Now that inventory is rising, we do expect the growth in prices to moderate, but we don't expect prices to fall. That's because supply is still very low by historical standards, and low supply will continue to support elevated prices. For this and other systemic reasons, we fully expect Dane County real estate will continue to be an excellent, long-term investment.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred