August was another month of high prices and low inventory for the Dane County condominium market. Here's our latest snapshot covering all of the key trends in the Madison area. 

Condo inventory

Available listings (those without an accepted offer) increased significantly this summer, but have since receded from the peak levels in July. Dane County currently has less than a month of inventory available for sale, which is one reason why we expect more price appreciation in the months ahead.

New MLS listings

Through the first 8 months of 2022, new condominium listings are entering the market at the slowest pace in 20 years. New listings decreased by 17% year-over-year in July, and by 22% in August. Listing activity will be low this fall, too,

Madison area home prices continued to reach new highs in the month of August, while days on market continued along record lows. Here's our latest update on the Dane County single family home market. 

Dane County single family home inventory

Active inventory increased dramatically in May and June, and then leveled off in July and August. Inventory remains very low from an historical perspective, which is one reason why we expect Madison area home prices will remain elevated in the months ahead.

Dane County single family home new listings

Inventory remains low because new listings are entering the market at a very slow pace. In July, new MLS listings decreased by 25% from the year before. In August, new listings decreased by 30%. Through the

With the market mellowing, the home-buying experience is changing.

Now, buying your dream home can be as simple as following these 3 basic steps:

#1: Hire a professional buyer agent who will help you stay on top of every new opportunity.

#2: When a new listing intrigues you, schedule your showing right away.

#3: If you absolutely love the home after seeing it in person, then write your offer immediately. It's possible that the seller will accept your offer as written, if you're the first one to write. 

Of course not every sale goes this way, but we're seeing more and more sellers accepting offers which don't involve any competition. Which means more homes and condos are selling for below the list price, and with inspection and appraisal

At Mad City Dream Homes, we're always seeking to meet new people who we can refer with confidence to our clients and friends. We love referring professionals in the trades, as well as service professionals like financial planners, accountants, attorneys, insurance agents, mortgage lenders, architects, interior designers, and so on.

So, we would absolutely love to meet a trusted professional in your life -- someone you admire and respect -- and get to know that person better. Just reach out to your favorite Mad City Dream Homes realtor to make an introduction.

Thank you for helping us better serve you, our clients, and our friends.

Sincerely, 

Your friends at Mad City Dream Homes

It's true, buyer activity has decreased in recent months, but seller activity has decreased noticeably, too.

Take single family homes, for example

Through the first 8 months of the year, new single family home listings are entering the market at the slowest pace since the year 2000, with the slowdown in new listings increasing noticeably in July and August.

And Dane County condos

Through the first 8 months of the year, new condominium listings are entering the market at the slowest pace since 2002. Similar to homes, the slowdown in new condominium listings has accelerated in July and August.

Where will the Madison area real estate market go from here?

We encourage you to read our blog post, Why Dane County real estate will remain

When we first sat down with Sarah and her family at her kitchen table, we understood it was time for Sarah to move closer to her family. We also understood that Sarah would need plenty of extra care and support along the way. So Dan and Shelley quickly created a plan and assembled all of the resources that Sarah would need in order to make her sale a smooth one. 

The plan

Professional staging

• Shelley Lazzareschi and Debbie Lea immediately went to work on Sarah's condo, using the furniture and accessories that Sarah owned. Then Shelley and Debbie brought in plenty of artwork and accessories from their own collections in order to round out their staging plan. 

Home repairs and updates

• Grant Priehs addressed a few small repairs,

Earlier this summer we shared the names of a few contractors who are standing out with service in 2022. Here are a few more professionals that we'd love to share with you based on their track record with our clients and our team. 

Paul Peterson - Painter (608-358-3600)

Paul and his team are friendly, reliable, and professional. They're receiving rave reviews from our clients, and we absolutely love their work on our office remodel. We highly recommend Paul and his crew. 

Cody Helmer - Construction (608-577-7041)

Cody and his small crew specialize in new roofs, new siding, 3-season porches, and large-scale remodeling projects. Even better, Cody is the type of person you can do business with on a handshake.

Bob Stigsell - Asbestos, Mold,

Wondering what's going on in the Dane County condo market? Here's our latest scoop on the Madison area condo market, updated through the month of July, 2022.

Active Dane County condominium listings

As of August 11th, 141 Dane County condo listings were available for sale (without an accepted offer) on the South Central Wisconsin MLS. After almost doubling over the last few months, active listings have actually started to level off and even recede in recent weeks. Why is this happening? Condominium listings continue to enter the market at a slow pace (see the next section below).

New Dane County condo listings

Only 165 new condominium listings entered the market in the month of July, which was a 17% decrease from July of 2021. Listings

Here's our latest scoop on the Dane County single family home market, updated through the month of July, 2022.

Available single family home listings

As of August 11th, 573 single family home listings were available for sale in Dane County. Although active listings have increased dramatically since the spring of 2022, the rate of growth has leveled off in recent weeks. A low supply of incoming listings has contributed to the leveling off of available inventory (see below).

New single family home listings

Only 566 new single family home listings entered the Dane County real estate market in July. This represented a 25% decrease from July of 2021, and the lowest total for any month of July since the year 2000. Why are listings entering the

Now that we’re entering a more rational real estate market, a lot of sellers are realizing that they can’t just wish for a price and have that price come true. They’re learning that there is both an art and a science to pricing, and that their home will sit on the market if they and their realtor don’t invest the time and thought required to select the right price. 

Our advice to you

So, if you're planning to sell your home soon, our advice to you is don’t leave your pricing up to chance. Ask your listing agent to perform a comprehensive market analysis for you, and ask you agent to explain their reasons for their pricing recommendation. In other words, ask your realtor to show their work. 

We also encourage you to formulate your own price