The month of May was another very favorable month for Madison area home sellers. Here's our quick snapshot of the Dane County single family home market. 

New MLS listings

Only 713 new MLS listings entered the market in the month of May, which was one of the lower new listing totals going back to the year 2000. 

Months of supply and percent of listings with accepted offers

As of June 7th, 58% of all listings were under contract with an accepted offer, which was lower than the 67% recorded last month. Right now there are .8 months of supply, which is up from .5 months in May. Single family home inventory is not quite as tight as it was during the peak spring market. 

Percent of listings receiving multiple offers

Our competing

Here's our snapshot of the latest Dane County condo trends, as well as some guidance for buyers and sellers on how to navigate this year's unique market. If you are planning to buy or sell a condo in 2021, please reach out to us for a helpful conversation. As always, we're never too busy to learn about your goals and share our guidance and advice. 

New Dane County condo listings

Excluding last April's numbers -- which were the result of the pandemic shutdown -- new MLS condo listings were at the lowest level since 2002. 

Condo supply and percent of listings with accepted offers

As of May 5th, only half a month of condo supply was available for sale in the Madison area -- which is the lowest level we have seen in our market. Overall, 71% of

Low inventory and rising prices continue to be the dominant themes in the Madison area real estate market. Here's our latest snapshot covering the month of April, 2021.

New MLS listings

Outside of last April's numbers (which were the result of the COVID shutdown), new MLS listings entered the market at the slowest pace since the year 2000. On a year-to-date basis, Dane County listings are down 10% from the year before. 

Inventory and percent of listings with accepted offers

As of May 5th, only half a month of single family home inventory was available for sale in Dane County -- which is the lowest level we have ever seen in our market. Overall, 67% of all listings are under contract with an accepted offer. The market for homes priced

Home and condo prices surged once again in the month of March. Here's our quick snapshot of the latest real estate trends in Dane County. 

Single family homes

• As of April 6th, 65% of all Dane County single family home listings are under contract with an accepted offer and only .5 months of supply are available for sale. Both of these numbers are off the charts for our market. 
• New listings decreased 15% in March from the previous March. 
• Accepted offers decreased by 4%. 
• Home prices increased by 9% year-over-year. 

Condos

• As of April 6th, 69% of all Madison area condo listings are under contract with an accepted offer and only .6 months of supply are available for sale. 
• New listings in March were even with the new

Madison area real estate prices are rising at the fastest pace we've ever seen, so your home or condo could be worth much more than you think -- even if you've only owned your property for a year or two. Check out our local price update below, and contact us for a complimentary market analysis. We can tell you how much your home is worth in this year's fast-moving market. 

Dane County home prices

February home prices rose 10% year-over-year and 9% year-to-date. Low inventory and high demand have been fueling price growth at an accelerated pace. 

Dane County condo prices

Condo prices jumped 13% in February and 8% year-to-date. With only .6 months of supply in the market, condo prices are poised to rise significantly throughout all of

Dane County home and condo listings continued to enter the market at a slow pace during the month of February, and a scarcity of listings is contributing to an unprecedented rise in prices (we'll be sharing more info on prices real soon). Here's the scoop on new MLS listings during the month of February. 

Single family home listings decreased 27% last month.

Only 440 new MLS listings entered the market last month, which was the lowest February total since at least the year 2000. 

New condo listings were down 30% in February.

Only 112 new condo listings entered the market in February, which was the third lowest total on record for the month. 

Our clients are accomplishing their dreams and goals in 2021. 

Even though inventory is

Inventory is tight for single family homes, and it's tight for condos, too. Here's our latest scoop on the Madison area condo scene covering the first 6 weeks of the year. 

Percent of listings with accepted offers and months of supply

Right now 58% of all Dane County condo listings are under contract with an accepted offer, which is a very high number for mid-February. Competition is especially high for condos priced under $350,000. Overall there are only .7 months of condo supply in Dane County. This is the lowest inventory level that our team has ever reported for our market. 

New MLS condo listings

Only 130 new listings entered the Dane County condo market in January. This was the third lowest total on record for the month. 

What's going on with Madison area real estate? The story of the year so far is low inventory. Here's our latest snapshot of the Dane County single family home market -- covering the first 6 weeks of 2021. 

Percent of listings with accepted offers

Right now 54% of all Dane County single family home listings are under contract with an accepted offer, which is a very high number for this time of year. The market for homes priced under $500,000 is especially competitive. 

Months of supply

Right now there are only .6 months of single family home supply throughout all of Dane County. Inventory is especially low for homes priced under $500,000. 

New MLS listings

Dane County property owners have been slow to put their homes up for sale

If you're thinking of selling your home in 2021, now is the time to put your home on the market, even though we're in the middle the winter season. Here's why: so far this year new listings are entering the market at an extremely slow pace. And with so much demand in the marketplace, many sellers are receiving multiple offers and selling for tens of thousands of dollars over the list. 

For a little more context, here's a quick look at how new MLS listings are trending in early 2021. 

Dane County new single family home listings

New single family home listings reached a new low in January and fell by 32 percent from January of 2020. Last month was the only January on record to log fewer than 400 new listings. 

Dane County new condo

The Madison area condo market was very active in December, as condo closings and accepted offers increased big-time to close out the year. Here's our latest market update along with our commentary on what to expect in the year ahead. 

Madison area condo sales

Despite low inventory, Dane County condo sales grew to the second-highest total on record for the month of December. Sales increased 29% year-over-year and 14% during the calendar year.  

Accepted offers

Local condo buyers were very active last month and almost set a new record for the month of December. Accepted offers increased 28% from the prior December and 14% during all of 2020. We expect strong sales totals in January based on the number of contracts signed in December.