Madison area home and condo supply is steadily growing this summer, promising buyers (including first time home buyers) more opportunities in the weeks and months ahead. On a related note, many sellers are responding to growing supply by becoming more flexible with their pricing.
Where will inventory go from here? Supply will continue to rise throughout the summer and into the fall, as it typically does each year (see the charts below). Here's what's happening in the market right now:
July 25th single family home snapshot
For the first time in a long time, Dane County single family home supply has surpassed 800 homes. As of July 25th, 851 homes are available for purchase -- up 34% from the 635 homes at the same time last year.
July 25th condo snapshot
A total of 251 Madison area condos are available for purchase as of July 25th -- up 35% from the 186 available at the same time last year.
This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & Realty Executives Cooper Spransy
1619 Monroe Street #1, Madison, WI, 53711
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