• 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…

  • 2019,  Market Updates and News

    Market Update – December 2019

    Home Sales Home sales for the month of November maintained the slower pace that we expect from our fall market, but are up ever so slightly from last month. There were 359 new homes listed for sale over the last 30 days. Of those new homes listed, 161 of them were 3 bedroom single family homes – typically the most sought after homes in our market. The average days on market for a sold home is 48, so homes are still moving relatively quickly. Inventory Inventory in Dane County remains tight, favoring sellers, but has increased slightly over this time last year. There were 359 new homes added to our…

  • 2019,  Market Updates and News

    A Market Update From the Desk of Tom Hotter

    You’ve probably heard that interest rates continue to hover around all-time low levels. Lower rates can provide buyers the potential of increased buying power for that dream home. They can also provide current homeowners an opportunity to refinance existing mortgages, enabling access to extra funds for remodeling, debt consolidation, college tuition, or whatever happens to be at the top of the list. But how have these historically low interest rates affected our local market here in Dane County? According to the Realtors Association of South Central Wisconsin, the number of single-family homes and condos sold in Dane County was 820 units for August 2019. This was the seventh time the monthly total exceeded 800,…

  • 2019,  Market Updates and News

    Change Is In The Air!

    On October 21, 2019, we announced the biggest technology advancement in the history of our company. Restaino & Associates became a member of the exclusive ERA Powered By community. This new affiliation gives us access to an incredible number of new products and services all designed to help your real estate transaction proceed quickly and smoothly. For home sellers, the ERA Powered By affiliation will provide us with higher visibility websites to better promote your home when listed with Restaino & Associates. Other tools such as text signs, home warranties and faster access to internet leads means we will be bringing more buyers to see your home early on in…