Home sales up, inventory down to start year
The numbers have changed but the story remains the same. Sales of single-family homes and condos across Dane County reached their highest number ever in January, but the number of active listings decreased 17%.
According to the South Central Wisconsin MLS, January home sales numbered 380, surpassing the previous record of 354 in 2016. The current inventory is at 1.26 months — six-months is considered “balanced” — meaning houses continue to sell very quickly, which is driving prices upwards.
In January, Dane County’s average home sale price jumped to $293,163, compared to $270,331 in January 2017, while the median sale price saw a similar year-to-year January increase from $240,000 to $264,950.