As of November 30th, the combined months of inventory for Dane County homes and condos was 4.8 months, down from the 7.1 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 4.4 months, down from 6.2 months in November of 2012.
Inventory for Dane County condos stood at 6.1 months, down from 10.4 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.)
Lower inventory is the big story for Madison area real estate in 2013. With more demand and fewer active listings, rising prices have been a dominant theme this year.
This graph shows the combined home and condo months of inventory for every November dating back to 2006. As the graph shows, the 4.8 months of inventory in the Dane County market represent the lowest inventory level since 2006, and a 56% drop from the peak year of 2008.
This graph shows the single family home months of inventory (excluding condos) for every November dating back to 2007. As the graph shows, the 4.4 months of inventory in November represent the lowest inventory level in the last 7 years. Inventory this November was down 50% from November of 2011.
This graph shows condo months of inventory (excluding homes) for every November dating back to 2007. As the graph shows, the 6.1 months of inventory in November represent the lowest inventory level in the last 7 years, and is 68% 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, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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