As of December 31st, the combined months of inventory for Dane County homes and condos was 4.0 months, down from the 5.9 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 3.7 months, down from 5.1 months in December of 2012.
Inventory for Dane County condos stood at 5.1 months, down from 9.1 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 suggest 2014 will be another good year for Madison area home and condo sellers.
This graph shows the combined home and condo months of inventory for every December dating back to 2006. As the graph shows, the 4.0 months of inventory in the Dane County market represent the lowest inventory level since 2006, and a 59% drop from the peak year of 2008.
This graph shows the single family home months of inventory (excluding condos) for every December dating back to 2007. As the graph shows, the 3.7 months of inventory in December represent the lowest inventory level in the last 7 years. Inventory this December was down 54% from December of 2010.
This graph shows condo months of inventory (excluding homes) for every December dating back to 2007. As the graph shows, the 5.1 months of inventory in December represent the lowest inventory level in the last 7 years, and is 70% lower than the peak year of 2008.
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, and Chris Venden, of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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