Most of us who are in real estate are taught early on in our careers how to promote and sell. But the truth is, most of us are tired of selling and tired of being sold to.

A good alternative is to stop selling and start serving. Make helping a habit instead. And keep helping without any regard for compensation. Day after day after day...

Cash sales in the condo market are occurring much more frequently than in the pre-pandemic market. Through the first 9 months of 2023, a whopping 37 percent of all Dane County condos were purchased without a financing contingency.

A high percentage of cash offers is a clear sign of a competitive market. It's also an indicator of pent-up demand, where the number of buyers exceeds the number of condos for sale in Dane County.

Where will the condo market go from here?

Even though mortgage rates have been rising, we do anticipate strong demand, low supply, and steady price growth for the foreseeable future. Demand will be strong because Dane County continues to be an attractive career and retirement destination, while the condominium

Here's our latest insight into the Madison area condo market, starting out with a look at the latest price trends. 

Dane County condo prices

On a year-over-year basis:

• The price per square foot increased from $206 to $222 (8 percent). 
• The median price increased from $281,000 to $301,000 (7 percent). 
• The average price increased from $316,368 to $345,510 (9 percent). 

On a year-to-date basis:

• The price per square foot increased from $202 to $215 (6 percent). 
• The median price increased from $267,860 to $300,000 (12 percent). 
• The average price increased from $299,777 to $333,552 (11 percent). 

New condo listings

New condominium listings continued to enter the market at a slow pace. Only 112 condos were

Low inventory continues to rule the market in Dane County, and it's low inventory that continues to drive prices higher. 

Dane County home prices

On a year-over-year basis:

• The price per square foot increased by 7 percent.
• The average price increased by the same amount.
• And the median price jumped by 12 percent.

Through the first 9 months of the year:

• The price per square foot was up 5 percent.
• The average was up 7 percent.
• And the median was up 6 percent.

New listings

New MLS listings continue to enter the market at an historically slow pace. Only 406 homes were listed for sale in September, which was the lowest on record for Dane County. Listings have been trending much lower since the summer of 2022,

We’re always looking for the next like-minded realtor to join us. Someone who sees teamwork as an opportunity, not a compromise. Someone who loves working by relationship and referral. Someone who is generous, hardworking, and humble. 

If you're a realtor and these traits describe you, then we would love to hear from you. Who knows where our conversation might take us? It could be the beginning of a beautiful new friendship...

As is the pattern every year, property showings are decreasing this fall, too. This is the seasonal nature of our market here in Dane County. 

Another trend worth noting is that showing activity this year is well below the levels from the last several years. This is because fewer people are choosing to sell in 2023, and fewer people are choosing to buy, due to rising interest rates. 

And yet, prices remain high. 

The Dane County real estate market is a unique one, for sure. We'll be shedding more light on all of the latest trends real soon. Stay tuned for our September market reports, which we'll be releasing in the next few days. 

Dane County single family home listings continued to enter the market at a slow pace in the month of September. 

And the trend was the same for condos. 

Meanwhile, home and condo prices were up significantly. We'll have much more into to share on prices...coming real soon. 

Even if you don't plan to sell until next year, this fall offers an excellent window of opportunity to capture exterior and aerial photos. Plan ahead by gathering some beautiful shots this fall, and next year you'll be glad you did.

Buying a home can be an emotional roller coaster. The excitement. The stress. It brings about lots of feelings. You start by looking at listings online then you schedule showings. You finally find that one… the home that spoke to you and your partner. Everything felt right. You wrote a strong offer and beat out several other buyers. Your agent negotiated great terms on your behalf. And finally, you close and settle into your new home. 

The home felt like a blank canvas when you first saw it. Fresh neutral paint colors, no personal effects, lots of open space, etc… As you took possession of your new home and move your belongings into it, you begin to make it your own. Over time the process continues. You make some updates, some big, some small. Perhaps

The Dane County real estate market continues to be one where buyers outnumber sellers. How do we know this? Here are 3 key indicators of pent-up demand in the Madison area. 

#1: competing offers

It's true, we aren't seeing listings receiving 20 and 30 competing offers this year. But a high percentage of Madison area listings do continue to receive multiple offers. The percentage remains very high when compared to pre-pandemic levels. 

#2: cash offers

The percentage of listings receiving cash offers is also trending along historically high levels, which is another clear sign of pent-up demand. 

#3: days on market

And of course, marketing times, remain historically low. Many Madison area home and condo listings continue to sell in