How does the Dane County single family home market vary by price? Here's a little insight using our inventory snapshot from August 6th.
Percent of listings under contract
According to our August 6th snapshot, the under $400,000 price categories are experiencing the most momentum, with greater than 50 percent of all listings under contract with an accepted offer. At $400,000 and above, the percent of listings under contract is lower, ranging from 26 to 45 percent (depending on specific price category).
Inventory by price range
Another way to evaluate inventory is to look at months of supply by price range. Once again, the numbers show a tighter and more active market in the under $400,000 price categories. According to our August 6th snapshot, all of the under $400k price categories have 1.1 months of supply or less. Above $400,000, supply ranges from 1.8 to 4.9 months (depending on specific price category).
All of this lines up with our daily real estate experience
The more affordable listings do tend to receive more offers and sell more quickly. With that said, every situation is different. For example, we have many first-time buyers who are writing offers and preparing to move into their home right now. Buying opportunities are improving across the price spectrum
Whether you plan to buy or sell (or both) in the near future, you're likely to have questions. We encourage you to call on one of our full-service realtors for a helpful consultation. We'll help you craft a plan that gets you moving toward your goals, and without any of the sales pressure or spin.
