If you're thinking of selling your home in 2021, now is the time to put your home on the market, even though the ground is covered in snow and we'll be having sub-zero temperatures later this week. Here's why: so far this year MLS 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 listings 

New condo listings were also historically low in January, coming in at the 3rd lowest on the record. 

What to expect in 2021

As we recently wrote in our 2021 predictions, we expect home and condo sales to be very strong this year, but first this will require more property owners to put their homes on the market. We do expect home and condo inventory to loosen up somewhat as the weather warms and as more people receive their COVID-19 vaccine. In the meantime, the month of February offers a rare opportunity for many sellers in Dane County. 

If you're wondering what your home is worth in this year's unique market, please contact one of our real estate professionals for a market analysis and a customized marketing plan for your home.