What’s happening in the Dane County Real Estate Market?
The most recent data from October indicates while the market has slowed, it hasn’t slowed substantially.
Average home prices crept up a bit with an average sale price of $485,896 compared to $431,526 in September, 2022.
The days on market continue to hover right around 20 days, but fewer homes sold in October compared to September. There were 666 homes sold in September but only 515 homes sales is October.
This can be attributed to a seasonal change – fewer houses are listed in the fall and buyers tend to back away from the market during the later part of the year. Coupled with higher interest rates and an inventory of homes for sale that continues to be tight, these numbers are not surprising.
The flip side of that is that the mild fall weather and the lack of inventory has some buyers still out looking to purchase.
For more market insight, drop me a note. I’m always happy to talk!