Here's our latest update for the Madison area single family home market, covering the month of March, 2023.
Competing offers
Our preliminary data for the month of February shows that 48% of the homes that went under contract in February received multiple offers. This is a very high percentage for this time of year -- just below last February's record of 50% -- and points to more rising prices in the months ahead. These high numbers show that we still have a large pent-up demand for real estate here in Dane County.
New MLS listings
One of the reasons competition is so high, is because the number of new listings entering the market is so low. Right now, new MLS listings are entering the market at the slowest pace on record.