Understanding the Dane County Real Estate Market: A Quick Guide

Navigating real estate can be tricky, but as Dane County experts, we’re here to simplify it. Here’s a quick look at what’s happening in our local market as of August 2024:

• Median Sale Price: Homes are selling for a median of $440,000, up 6% from last year.
• Number of Sales: 642 homes were sold in August, a 7.4% increase over last year, showing strong buyer activity.
• Days on Market: Homes are selling fast, with a median of just 7 days on the market.

What Does This Mean for Buyers?

For buyers, it's important to act quickly when you find a home that fits your needs. The current market is competitive, and homes are selling in under a week. Working with a knowledgeable real estate team can help you move swiftly and make informed offers.

If you're worried about rising prices, remember that mortgage rates can still be favorable depending on your financial situation. We can help guide you through the process, ensuring you understand every step.

What Does This Mean for Sellers?

For sellers, this is a prime time to list your property. With homes selling in record time and many buyers in the market, you're likely to get good offers. Pricing your home correctly is key to attracting the right buyers quickly.

Our team knows the Dane County market inside and out, and we’re here to help you price and position your home for success. Whether you're looking to upgrade, downsize, or relocate, we can help you achieve your real estate goals.

In summary, whether buying or selling, Dane County remains a competitive market. Need help navigating? Reach out to us for expert guidance!

Neighborhood Highlights

Top Zip Codes for New Listings (Last 60 Days)

1. 53711 (Madison) – 105 new listings
2. 53590 (Sun Prairie) – 102 new listings
3. 53704 (Madison) – 85 new listings

Top Zip Codes for Sales (Last 60 Days)

1. 53590 (Sun Prairie) – 64 sales, Median Sale Price: $439,900
2. 53711 (Madison) – 56 sales, Median Sale Price: $442,000
3. 53593 (Verona) – 53 sales, Median Sale Price: $536,500

Top Growing Zip Codes

1. 53593 (Verona) – Significant growth due to new housing developments, with a median sale price of $536,500.
2. 53590 (Sun Prairie) – Experiencing strong demand, driven by family-friendly communities and expanding commercial infrastructure, with 64 sales and a median price of $439,900.
3. 53704 (Madison) – Popular for its affordability and younger buyers, with 46 sales and a median price of $352,500.

These trends highlight vibrant activity in the Madison metropolitan area, with specific suburbs showing robust growth and new listings, making them areas to watch for both buyers and sellers.

*These are the total numbers for Dane County, which includes both single-family homes and condos.