Do you know the stats? I do!!
We saw a shift in January. It’s still a seller’s market, but here’s what the numbers look like:
🏠384 homes sold in January in Dane County compared to 630 in December, 2021…wowza! what a dip!
🏠 The average sale price also decreased from $397,060 in December to $384,029 in January, 2022.
🏠 Average days on the market saw a slight increase, from 29 days to 34 days in January, 2022.
While there has been a slight decline, we are still in an extremely tight market. Why? Several reasons:
Interest rates are on the rise., and that makes buyers eager and anxious to find a house.
Inventory is still at an all-time low. Sellers have no where to go, so until they can find a landing place they are reluctant to list their house for sale.
So why do you need to know the statistics of the current market? If you are buying or selling a house in Madison, all these numbers will come into play in your overall strategy, whether you are buying or selling. Statistics are your friends. And if you don’t know them, find an agent who does (me!)!
Give me a 👍if you found this helpful!