As of July 31st, the combined months of inventory for Dane County homes and condos was 5.8 months, down from the 6.3 months registered a year ago. This measure is based on the number of active listings and the average monthly sales volume from the preceding 12 months.
Looking at homes alone, the months of inventory stood at 5.8 months, down from 6 months in July of 2013.
Inventory for Dane County condos stood at 6 months, down from 7.4 months a year ago.
(Note from the graph we started tracking the months of inventory for single family homes and condos separately in May of 2007.)
Continued low inventory levels will cause home and condo prices to rise in 2014.
This graph shows the combined home and condo months of inventory for every July dating back to 2006. As the graph shows, the 5.8 months of inventory in the Dane County market represent the lowest inventory level since 2006, and a 58% drop from the peak year of 2011.
This graph shows the single family home months of inventory (excluding condos) for every July dating back to 2007. As the graph shows, the 5.8 months of inventory in July represent the lowest inventory level in the last 8 years. Inventory this July was down 52% from July of 2011.
This graph shows condo months of inventory (excluding homes) for every July dating back to 2007. As the graph shows, the 6 months of inventory in July represent the lowest inventory level in the last 8 years, and is 73% lower than the peak year of 2009.
How active listings have changed over timeMonths of inventory by location - homesMonths of inventory by location - condosMonths of inventory by price range - homes and condos
This information is provided courtesy of Dan Miller , Shawn Kriewaldt , Chris Venden and Tammy Steiner of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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