We've been sharing how Dane County home and condo inventory is quietly rising and how buyers who remain patient and persistent will find more opportunities to purchase this summer and fall. However, in the big picture, inventory remains low. Here's a quick look at Dane County home and condo supply as of June 27th, 2024. 

Single family homes 

As of June 27th, a total of 580 Dane County homes (or 1.5 months of supply) are available for sale without an accepted offer. Months of supply are low in all price ranges, especially in the sub $400,000 price categories. Here's how months of inventory vary by price range in Dane County. 

Condos

As of June 27th, 181 condos (or 1.6 months of supply) are available for sale without an accepted offer. Some newer condo developments are improving options for buyers, but inventory remains tight across the board, especially in the sub $300,000 price ranges. 

What to expect going forward

Although options are improving for buyers, there are many factors at play which point to plenty of buyer demand and competition in the years ahead. One especially important trend to keep in mind is the large number of millennials who are aging into their peak home-buying years over the next decade. When we consider all of the current supply and demand trends, we fully expect Dane County will continue to be a competitive market for the foreseeable future. 

Advice for buyers 

If you're in the market to buy, we encourage you to treat your search as a 12-months-out-of-the-year endeavor. You just never know when your best opportunity will present itself, so you need to be prepared to buy any day of the year. 

We also encourage you to choose an active over a passive approach to your search. Perusing properties online can be interesting and fun, but it won't necessarily get the job done. A much more effective approach is to partner with a professional who will actively work your plan for you. 

Advice for sellers 

If you're planning to sell, we encourage you to plan ahead and consult with a trusted professional. The market can vary a lot by time of year, location, and price range. Consulting with a professional will help you get a solid grasp of the market dynamics for your particular home. 

Planning ahead will also you give you time to address important repairs, implement low-cost cosmetic updates, and complete your staging. You'll maximize your return on your investment when you work proactively on the preparation of your home.