Madison space house costs upward push once more in July

This is our newest perception into the Dane County unmarried circle of relatives house marketplace, protecting the month of July, 2023. 

July Dane County house costs

Madison space house costs endured to upward push in July, and through all measures:

  • The cost consistent with sq. foot of $225 rose through 6 p.c from the $213 in July of 2022.
  • The median worth of $446,154 additionally grew through 6 p.c.
  • And the typical worth of $505,915 higher through 5 p.c. 

We are anticipating costs to proceed to upward push for the foreseeable long run according to all of our present provide and insist developments — stay studying for extra perception.

Madison WI home prices July 2023

July MLS listings

Because the chart under presentations, MLS list task reduced considerably final summer season when rates of interest moved sharply upper. And listings had been trending decrease ever since. At this time, list task is sort of 40 p.c not up to it used to be on the identical time two years in the past.

Madison WI new MLS listings July 2023

What is extra, new listings are coming into the marketplace on the slowest tempo on file.

Madison WI historical listings July 2023

To be had listings

With fewer houses coming into the marketplace, fewer houses are to be had for patrons to buy. At this time there are not up to 500 to be had houses (the ones with out an authorised be offering) in Dane County. Be aware from the graph under, that there have been smartly above 500 to be had listings on the identical time in 2022 and in 2021.

Madison WI Home Inventory August 2023

Competing gives

Madison space house costs stay emerging for the reason that p.c of listings receiving competing gives stays increased. Be aware from the chart under that the competing be offering proportion remains to be very prime when in comparison to pre-pandemic ranges.

Madison WI Competing Offers June 2023

Authorized gives

Low provide continues to restrict the collection of houses going underneath contract in Dane County.

Madison WI Accepted Offers July 2023

July Dane County house gross sales

July house gross sales (or closings) have been the bottom since July of 2011.

Madison WI July 2023 home sales

Days on marketplace

Days on marketplace proceed to pattern alongside traditionally low ranges.

Madison WI Days on Market July 2023

We are in a brand new technology for actual property

And most of the previous laws, according to plentiful provide, not observe. Listed here are 9 causes why we look forward to prime costs and coffee provide in Dane County for the foreseeable long run.

How does the marketplace have an effect on you and your actual property targets? We are at all times to be had for a dialog, and we would love that can assist you plan in your long run. Achieve out to us each time you want a bit of assist. 

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