The numbers for the month of June are in, and once again, it was another very favorable month for Madison area home sellers. Here's our latest update on the Dane County single family home market.
Dane County home prices
Dane County home prices set a new record for the month -- increasing by 12 percent year-over-year and 12 percent year-to-date.
Dane County home sales
Sales (or closings) in June were limited due to low supply.
Despite low supply, accepted offers came in at the second highest total on record. Based on this, we expect strong sales totals in the months of July and August.
Dane County competing offers
The percent of listings receiving more than one offer reached an all-time high in the month of May.
Months of supply by price range in Dane County
As of July 15th, there are only .8 months of single family home supply in the Madison area. The market for homes priced under $400,000 is especially tight.
New listings started off the year down by roughly 25% from the year before. Now that our society is opening up, we're beginning to see signs that more people may be choosing to list their home for sale.
Do you have questions about buying or selling during the second half of 2021?
We're here to learn more about your goals and answer all of your questions, so please reach out to one of our full-time realtors for a cup of coffee and and conversation. We'd love to help you make your real estate dreams come true in 2021.