January 2024: Insights into Dane County's Housing Market

Dane County's real estate market in January 2024 shows subtle changes that warrant attention. Here's a quick dive into the key statistics:

Sales and Prices: With 277 homes sold, the market experienced a minor 1.5% decrease in sales volume year-over-year. However, median sale prices rose significantly by 5.8% to $419,900, suggesting homes are still in demand.

Negotiation Power: Buyers seem to be negotiating better deals, with homes selling for 0.53% less than the asking price on average.

Inventory Levels: There are 483 active listings, and new listings have increased by 9.4% from the previous year. A higher inventory indicates a market that’s becoming more favorable to buyers.

Market Pace: Homes are selling fast, with a median of 13 days on the market, reflecting a dynamic market.

Supply Dynamics: The months of supply indicator is at 0.96, still signaling a seller's market, but with more room for buyer negotiation than before.

What This Means

Sellers might need to be more thoughtful about pricing, while buyers could find more options and bargaining power. The market remains active and competitive, even with these nuanced shifts. Both buyers and sellers should stay informed and work with real estate professionals to navigate the market effectively.

*These numbers are for both single-family and condo homes combined.