The month of December has arrived, which means it's time for our annual real estate predictions. Below we've identified 8 key market trends for the coming year. For a look back at our 2019 predictions, check out this article which we published at the end of last year.

Our 2020 Madison real estate predictions

#1: Mortgage rates will remain well below 5 percent.

We're not economists and we're not experts in the mortgage market, but we do know 2020 is an election year. Because of this we expect mortgage rates will remain near historically low levels throughout all of 2020. 

#2: Inventory will remain low.

Dane County's growing population needs housing, but the pipeline of new listings and new construction homes isn't sufficient to meet the

Most of the real estate reports put out by the media focus on active listings (inventory) and sold listings (number of sales, median price, and days on market). Expired listings are another key part of the market that often get overlooked. You might be asking, so what is an expired listing, anyway? An expired listing represents a listing contract between a seller and real estate brokerage which does not result in a successful closing. In other words, a listing that runs its course and "expires" without selling. 

More about expired listings 

In a buyer's market, a large number of listings expire because there are more sellers than buyers. In a seller's market, a low number of listings expire, because there are more buyers than sellers. The 2

There are many reasons why Dane County property owners can feel good about their investment. Here are 5 big reasons why the greater Madison area is one of the best places in the country to own a home, condo, or investment property. 

5 reasons why Madison is a great place to own real estate

Strong local employers

The greater Madison area is blessed with many thriving businesses and one of the lowest unemployment rates in the country. Innovative companies like Epic Systems, Exact Sciences, and others are fueling growth by adding a variety of new, high-paying jobs to our economy. 

A high quality of life

The Madison area has a strong reputation throughout the country for being a great place to live and work. The University of Wisconsin, a

The Dane County real estate market is always changing, but one dynamic we can continue to count on is low inventory. Here are a few reasons why the supply of Madison area homes and condos will remain low for the foreseeable future. 

Why Madison area housing supply will remain low next year

1) A low supply of new construction homes and condos

Although it may seem like there are a ton of new construction homes and condos being built in Dane County, much of the new construction growth in the area has been for commercial space and apartments. New home construction has been running well below historical highs for the last 14 years (see graph below). New condo construction has been very scarce and insufficient to meet the demand in the

The Dane County real estate market set several new records in the month of October. Here's our short review of the numbers for both the single family home and condo markets. 

Price per square foot

Dane county home prices established a new high for the month of October. The price per square foot increased by 3% year-over-year and 3% year-to-date. 

Condo prices also reached a new record high in October. The condo price per square foot increased by 9% year-over-year and by 4% year-to-date. 

Accepted offers

Single family home accepted offers established a new high in the month of October, increasing by 3% year-over-year and decreasing by 1% year-to-date. We expect solid sales totals in November and December based on the number of

Here's our latest summary of the Dane County real estate market. For more information on the market in your particular neighborhood or condo association, please reach out to your favorite Mad City Dream Homes agent. 

Accepted offers 

Mortgage rates dropped in August and Madison area home buyers responded. September of 2019 was the third most active month of September on record. A total of 438 Dane County single family home listings received accepted offers, which was up 9% year-over-year.  

Condo accepted offers decreased, but still came in at the 6th highest level on record for the month of September. Inventory is especially tight in the Madison area condo market, and is limiting buyer activity in 2019. We cover condo supply a little later

We've summarized our latest snapshot of the Madison area single family home and condo markets below. For more thoughts on the opportunities available to buyers and sellers this fall, check out this recent blog post. 

August home and condo prices

Dane County home prices are at an all-time high and have risen 2 percent through the month of August. 

Dane County condo prices are also at an all-time high and are 3 percent higher through the month of August. 

August accepted offers

Dane County home buyers were active in the month of August. Accepted offers rose by 3% for the month and were lower by 4% year-to-date. 

Accepted offers in the condo market were lower by 11% in August and by 9% year-to-date. A lack of affordable

Here's our latest objective look at the home and condo markets in Madison, Wisconsin. For more information on the larger market in Dane County, check out this recent update on our blog. 

Madison home and condo prices

Madison single family home prices reached an all-time high in July, increasing by 4% in the month and 4% year-to-date. 

Madison condo prices also set a new record in July. Condo prices increased by 4% year-over-year and were higher by 2% year-to-date. 

Madison accepted offers

Single family home accepted offers decreased by 10% in July and by 6% year-to-date. From an historical perspective, buyer activity was still quite strong in the month of July. 

Condo accepted offers increased by 10% year-over-year and

Here's our quick update on the latest real estate trends in Dane County. How does the current market impact you and your real estate goals? Reach out to us for a short conversation. 

Dane County Home and Condo Prices

Dane County single family home prices reached an all-time high in July. Prices increased by 1% in July and were up 2% year-to-date. 

Dane County condo prices were also at an all-time high, increasing by 8% in July and 4% year-to-date. 

Dane County Accepted Offers

Single family home accepted offers decreased by 7% in July and were lower by 5% year-to-date. Still, buyer activity in July was quite strong when compared to each July over the last 20 years. 

Accepted offers for condos decreased by 6% in July and were

Late last year we released our predictions for the 2019 Madison real estate market. Here's our short review of how well those predictions have held up through the first half of the year. 

#1: Mortgage rates will rise above 5%

We, and just about everyone else, whiffed on this one. Rates for 30-year fixed rate loans have dropped to well below 4 percent. This graph from Freddie Mac shows how mortgage rates have trended over the last year. 

#2: Home and condo prices will rise 2 to 3 percent

Madison home prices have increased by 4% through the first 6 months of the year. 

Madison condo prices have increased by 2 percent. 

#3: Foreclosures will rise

Madison area foreclosures have actually decreased through the month of