Madison WI Real Estate: Winter Update
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As I'm sure many of you know, the Madison WI real estate market is still going strong, despite the bitter cold! According to Property Trax, active listing inventory in Dane County hasn't been this low since 2006 (when comparing inventory on the 31st day of December, from 2006-2013):
Since we've been talking to a lot of home sellers on the near west side of Madison lately, I decided to pull a few quick numbers to share with them. The data is encouraging, and based on my experience, I assume this trend does not stop at the borders of the near west side. It's exciting to see the numbers holding strong, during what's known to be the slowest season in the year.
Sub Areas W13 & W14 http://www.scwmls.com/pdf/
Accepted Offers since Jan. 1st= 15 and counting
Homes sold in 2013= 217
Current Active= 37
Months supply of inventory continues to dwindle in January, and is down to 2.46 , meaning it's still a seller's market. Months of inventory= # of homes currently active divided by the number of homes selling each month, based on a 12 month average.
If you're interested in obtaining more in depth market information about your neighborhood, or you're considering selling your home this year, give us a call--this is the time to start strategizing for your 2014 sale.