Dane County condo prices increased by 2 percent in May and by 8 percent through the first 5 months of the year. We do expect condo prices to continue to increase this summer due to the low inventory in and around Madison. Stay tuned for our regular blog updates, which will offer plenty of market insight in the months ahead.
Accepted offers were quite strong in May, given the recent rise in mortgage rates. Signed contracts were lower by 2 percent year-over-year and by 14% year-to-date.
New condo listings
New condo listings came in at the lowest total since 2003. Listings were lower by 13% year-over-year and by 8% year-to-date.
Only 119 listings and .8 months of supply were available for sale…