Dane County Market Update
Posted by Jolenta Averill on
Given our frequent focus on the Madison market, we thought an update about the overall market for real estate in Dane County was in order. So we put together the market snapshot below showing the performance of the Dane County real estate market in each category of sales for October 2010.
As you can see, October sales in Dane County compared favorably to that of, well, molasses. As you can see, no more than approximately 5% of any category of available real estate inventory sold during the month of October. Moreover, sales of the two biggest categories, single family homes and condos, were down over 50% and 70% respectively from last October. Prices held firm for condos and multi-family homes and even increased 10% for single family homes, however…
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I wanted to share something with you in the event that you may still be on the fence about buying a home in Madison (or anywhere in Dane County). As we've seen over the past two weeks, the historically low rates that we've been witnessing are not going to last forever and, in fact, have already started rising. And while it is true that Madison house prices may continue to soften (although it must be pointed out that, overall, they have held up quite well), from a buying perspective there may never be a better time to buy a house in Madison and here's why: