Dane County home inventory indicates seller’s market

With 321 reported Dane County home sales in January — the most since 2007 — the year got off to a good start, with a 13% increase in the number of homes sold compared to January 2014 (284), according to the South Central Wisconsin MLS Corp.

In Dane County, the median home price increased to $216,000, up from $205,750 a year earlier, and the average price of a home sold in the county was $243,519, up slightly from $237,053. Sales are brisk as inventory remains tight.

At the end of January, active listings numbered 1,835 (single-family homes and condos), down from 2,198 listings in January 2014. The current inventory is at 3.13 months, meaning it’s a great time to sell. Six months is considered a balanced market between buyers and sellers.