The Dane County Real Estate Market - Sales Volume Trends

Dane County inventory has fallen from the levels of 2007, an encouraging trend for sellers. However, there is another trend at work which is helping to keep inventory near its all-time high.

Sales volume has been on the decline, for both homes and condos. And the rate of decline has increased in recent months.

Looking at Dane County homes, the peak year for sales volume was 2005. In 2006, sales volume fell by 11% from the prior year, and volume fell another 5% in 2007. This year, year-to-date sales volume through the month of March has decreased by over 28% from the same time period last year.

The trend for Dane County condos has mirrored the trend for Dane County homes. In 2006, sales volume fell by 9%, and volume decreased by another 10% in 2007. This year, year-to-date sales volume through the month of March has decreased by 21% from the same time period last year.

If you're selling your home, what does this mean for you? With fewer buyers out in the market, you need to compete for your sale. Your pricing, presentation, and marketing plan are all key elements in the sale of your home.

Also keep in mind that all real estate is local, even down to the neighborhood level. Both the supply and the demand for housing can vary greatly from one location to the next. Your odds for success will increase greatly when either you or your realtor invest the time to understand the market dynamics of your particular neighborhood.