More Homes Sold (Number of Sales): In November, there were 472 homes sold in Dane County, marking a 3.1% increase from the previous year. This shows a slight uptick in the number of homes sold compared to the same period last year, suggesting a possible increase in buyer activity.

Home Prices Still Rising (Median Sale Price): The median sale price for homes in Dane County surged to $412,500, indicating a significant 10.0% increase from the previous year. This substantial rise in median sale price emphasizes the ongoing trend of home prices climbing in the county.

Less Over Asking (Average % Over Asking): On average, homes sold for slightly (0.66%) over their asking prices, which is about 1% lower than the previous year. This decrease in the percentage over asking suggests a potential shift in the market's competitiveness, indicating a slightly less aggressive bidding scenario compared to the previous year.

Limited New Listings (New Listings): November saw 336 new listings delivered, marking a 6.3% decrease from the previous year. This reduction in new listings implies that there continues to be limited inventory available for potential buyers, contributing to the market's competitive nature.

Active Listings and Total Volume: Currently, there are 577 active listings in Dane County. Additionally, the total sales volume reached $216,737,169, showing a notable 12.2% increase from the previous year. These figures suggest healthy home values and list prices, despite the limited inventory available.

Quick Sales Persist (Median Days on Market): Homes are still selling in a rapid 7 days, maintaining the same speed as the previous year. This quick turnaround time emphasizes the high demand for properties in Dane County, further highlighting the competitive market conditions.

Tight Housing Market (Months of Supply): The months of supply stand at 1.15, continuing to indicate a seller's market. This means that demand continues to outpace the available supply, leading to competitive conditions for buyers and potential increases in home prices.

In summary, the housing market in Dane County for November 2023 reflects continued increases in home prices, limited inventory, and a competitive landscape for buyers. While there's a slight increase in the number of homes sold compared to the previous year, the market conditions still favor sellers. Considering the ongoing competitive dynamics, anyone looking to enter this market should be prepared for rising prices and swift sales.