• Market Updates and News

    Market Update – September 2020

    Home Sales Single family and condo homes sales were down about 6% compared to the same time last year. Undoubtedly, this is due to the lower inventory of homes for sale that our market continues to deal with. Inventory Inventory remains low for single family and condo homes in Dane County. Prior to COVID affecting real estate sales (and practically everything else in our lives) inventory was already low in the Dane County area. Even though sellers are starting to return to the market, inventory is tight and buyers face competition for the homes that are available. Home Prices The average sale price for sold homes over the past month…

  • Market Updates and News

    Market Update – August 2020

    Home Sales Home sales in Dane County, for single family and condo homes, remained lower this month than this time last year. Home sales were down almost 100 units, or about 10%, which is likely due to our area’s persistent inventory shortage. Inventory Inventory remained steady (though low) for single family and condo homes in Dane County this month. With inventory sitting at just under 2.5 months of supply, competition for homes can be fierce – especially in the average home price range. Home Prices The average sale price for sold single family and condo homes in Dane County this past month was $361,520. That’s a $38,287 increase over the…

  • Market Updates and News

    Market Update – July 2020

    Home Sales Home sales in Dane County remained lower this month than this time last year. In June of 2019 there were 962 single family and condo homes sold. This past month saw 779 single family and condo homes sold, representing a 19% decrease. Inventory One of the driving factors behind decreased home sales is low inventory. Inventory for single family and condo homes in Dane County remained largely unchanged from last month, and continues to hover around two months of supply. Home Prices The average sale price of single family and condo homes in Dane County for June of 2019 was $345,740. The same value for June of this…

  • Market Updates and News

    Market Update – June 2020

    Home Sales Home sales were down about 25% from this time last year. This is not at all surprising, given the continuing COVID-19 situation and tighter housing inventory. Only 651 homes (condo and single family) sold in Dane County the past month, compared to 871 homes in the same categories last year. Inventory Inventory has hovered around the 2 month mark, and we are still in what is considered a “seller’s market”. Inventory for May 2019 was 2 months of supply, while this past month saw inventory levels of 2.39 months of supply. Home Prices The average sold price of single family and condo homes in Dane County was $343,303…

  • Market Updates and News

    Market Update – May 2020

    The month of May sees us entering the second month of the safer at home order in our area. While it’s likely had a significant impact on your lifestyle, what impacts has it had on our local real estate market and how we work? We’ve definitely seen a decrease in real estate activity since the start of this public health crisis, but business is still moving. Thanks to the technology and modified practices available to our agents, homes are still being listed and sold, even if they are fewer in number. Our inventory has gotten tighter, as some sellers are holding off on listing their home until things stabilize with…

  • Market Updates and News

    Market Update – April 2020

    This month’s market update will be a slight break from tradition, given that we are facing some unprecedented and unique challenges in our current market due to the public health crisis caused by COVID-19. Since real estate is considered an essential service – what could be more essential than the roof over your head! – we are still here to serve you and your real estate needs. We are adapting to the ever-evolving situation as updates become available and we are utilizing all of the technology at our disposal to offer contact-free transactions whenever possible. Here are some of the steps we are taking to safeguard the health of our…

  • Market Updates and News

    Market Update – March 2020

    Home Sales Home sales remained slower for the month of February, and fell slightly from this time last year too. This is due in part to the low supply of homes in our area. Inventory continues to be a problem for would-be home buyers, but should hopefully start to ease, with the busier spring market starting to ramp up. Inventory Inventory continues to be an issue in Dane County. With tight inventory, homes tend to sell quickly, especially lower – average priced homes. Competition for these homes tends to be high and buyers should be prepared to write competitive offers and willing to negotiate. Home Prices The average sale price…

  • Market Updates and News

    Market Update – February 2020

    Home Sales Home sales fell off significantly for the month of January, though if we look at historical data it seems to be pretty typical of this time period. This time of year is generally the “calm before the storm” as home sales ramp up heading towards the busy Spring and Summer markets. Inventory Inventory in Dane County has eased slightly over this time last year, but is still hovering around the two month mark. With inventory tight, the market favors sellers, and buyers should be prepared to write competitive offers if they want to snag the right home for them. Home Prices The average sale price of homes in…

  • Market Updates and News

    Market Update – January 2020

    Home Sales Home sales for the month of December rose slightly from last month, and more significantly from the prior year. There were a total of 257 homes listed for sale over the past 30 days, but twice as many (539) homes sold, keeping inventory tight in Dane County. The average sold home in December spent 50 days on the market. Inventory Inventory in Dane County remains tight, favoring sellers, but has increased ever so slightly over this time last year. Buyers who are looking for a home this time of year should be prepared to act quickly, especially in the median-home market, where demand is the highest. Home Prices…

  • Market Updates and News

    The Power of Pre-Approval

    Pictured Left to Right: Dan Leeder, Tyler Lentz, Kathy Leeder, and Dave Leeder Whether or not you’re in the market for a new home, you’ve probably heard the phrase, “Get pre-approved.” Perhaps it was through a radio or TV ad, on social media or from your friends or family. What you should know is what being pre-approved means in the homebuying process, and how it can make you stand out in today’s crowded buyer’s market. What is a Pre-Approval? To get a mortgage loan, you need to be pre-approved by a lender. This means that your lender will need to collect certain documentation, such as bank statements and W2s, to…