The Dane County real estate market continues to be one where buyers outnumber sellers. Here are 3 key indicators that reveal a significant amount of pent-up demand in the Madison area. 

#1: competing offers

It's true, we aren't seeing listings with 20 and 30 competing offers this year. But a high percentage of Madison area listings do continue to receive multiple offers. The competing offer 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 clean 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 a matter of days, not weeks. 

But what about rising rates? 

Mortgage rates have continued to rise this fall, and we do expect today's rates to lead to some softening of demand. And it's possible that prices may even begin to fall. 

Even so, we expect any drop in prices to be shallow and short-lived. There are simply too many factors at play which point to a long-term imbalance between the number of buyers and sellers in Dane County.