Many of you are asking about inventory and why is it so low. One way to answer this question is to take a look at an important source of inventory and how it has changed over time. So, here's our quick look at home building dating back to the year 2000. 

New single family homes and duplexes

Right now we have more than 1,000 new homes and duplexes being built each year in Dane County, but this is only about 50% of the volume that occurred during the construction peak in the early 2000s. What's not shown here are the numbers for new construction condominiums. Although we don't have historical data for condos, we know the supply of new construction condos is only a tiny fraction of what it used to be.

Supply is tight, and our population is

This year is already shaping up to be another very active market in the Madison area. Supply is low. Demand is high. And competing offers are occurring more frequently now that we're on the other side of the holidays. Here's our first market update in 2022 covering all of the latest single family home trends in Dane County.

New listings

New MLS listings in 2021 registered the lowest annual total since the year 2000, while the 175 new listings in December was the lowest total on record for the month. A lack of fresh supply is creating a very favorable market for sellers in early 2022.

Accepted offers

Buyers continue to gobble up homes almost as soon as they hit the open market. More listings went under contract in December (261) than

November was another great month for Madison area condo sellers, who continued to benefit from record-high prices. Here's our latest Dane County condo report covering all of the latest price, sales, accepted offer, inventory, and days on market trends.

Dane County condo prices

The price per square foot increased by 12% in November and by 12% through the first eleven months of the year. The median price was up 7% for the month, and the average was up by 10%. Where do we see prices heading in 2022? Check out our annual predictions, which we recently published to our blog.

Dane County condo sales

Madison area condo sales were down compared to each of the last two years, but were still high from an historical context, registering the 6th

November was another very active month for the Dane County single family home market. Here's our update on all of the current single family home trends in the Madison area.

Dane County home prices

The average price per square foot set a new record for the month of November and rose by 6% year-over-year. Year-to-date through the first 11 months of the year, the average price per square foot was up 9%. The median price was up by 6% in November, and the average was up by 2%. Could these numbers be foreshadowing a moderation in price growth in the year ahead? Check our our 2022 Madison real estate predictions for our thoughts on this topic.

Dane County home sales

Madison area home sales decreased 12% from November of 2020, but were still very

The month of December is upon us, which means it's time for our annual real estate predictions. Below we've identified 8 key real estate trends for the coming year. For a look back at last year's predictions, check out this article from our blog. 

Our 2022 Madison real estate predictions

 #1: Demand will be strong in 2022 and for the long-term. 

Dane County is already the fastest-growing region in the state, and we expect this trend to continue for the foreseeable future. Retirees, who have the freedom to live anywhere, will choose Madison for its variety of amenities and access to good healthcare. Employees, who have the flexibility to work remotely, will relocate to Madison for the same reasons. Out-of-state investors will continue to

Dane County condo sellers continue to enjoy a very favorable fall market as we approach the holiday season. Here's our latest condo market update covering prices, sales, inventory, days on market, and more. 

Dane County condo prices

The average price per square foot increased by 9% in October and by 12% through the first ten months of the year. The median price was up 7% for the month, and the average was up by 4%. 

Dane County condo sales

Although condo sales decreased from last October's unusually strong market, sales were still very strong -- registering the 3rd highest total on record for the month. 

Accepted offers

Contract signings decreased by 19% from last October, but still came in at the second highest total on record

October was yet another record-setting month for the Dane County single family home market. Here's our latest update covering all of the most important trends. 

Dane County home prices

Madison area home sellers continue to lock in record-high prices this fall. The average price per square foot rose by 14% from last October and by 12% over the first 10 months of the year. The median price was up by 6% in October, and the average price up by 4%.  

Dane County home sales

Madison area home sales decreased 13% from last October's record-setting pace. Even so, sales were very strong from an historical perspective, registering the second highest total on record for the month. 

Accepted offers

Contract signings were also very strong in

September was another very active month in the Madison area condominium market. Here's our latest condo snapshot covering all of the most important trends. 

Dane County condo accepted offers

Accepted offers decreased by 7% year-over-year, but were still very strong from an historical perspective. The 139 accepted offers last month were the 5th highest on record for the month of September. Remember, year-over-year comparisons are tricky right now because last year's peak market was pushed to the summer and the fall after the pandemic arrived in the spring. Also, don't forget that historically low inventory is limiting the number of offers that are being written in this year's market.  

Dane County condo sales

Madison area condo sales

Accepted offers and home sales were lower compared to last year, but September was still a very active month for the Madison area real estate market. Remember, the normal seasonality of our market was disrupted by the pandemic in 2020, which makes year-over-year comparisons tricky. With this update we'll help you make sense of our fall market while giving you plenty of historical perspective.

Dane County single family home accepted offers

Accepted offers decreased by 12 percent from a year ago, but don't let that fool you. Buyers have been very busy this fall. A total of 521 homes went under contract in September. Excluding September of 2020, last month was the most active September on record. The next highest September on record was September of

Earlier this year, CBS Morning News aired a feature story on how some people are choosing to move away from their hometowns that are impacted by heat, drought, wildfires, hurricanes, or rising sea levels.  

The story referred to people who relocate for climate reasons as "climate refugees" who are in search of their own "climate haven". According to one source in this story, the climate havens in the United States are located in the Upper Midwest and the Great Lakes Region.

The city of Madison was specifically mentioned as a climate haven because it is relatively free from natural disasters. It was also noted as a desirable place to live due to its reputation for having good schools, good healthcare, an abundance of outdoor and recreational