Dane County months of inventory vary significantly by price range

On Sunday we covered the change in sales volume for Dane County homes by price range. The results were a bit surprising, with homes in the $175,000 to to $274,999 price range showing the largest sales decrease (on a percentage basis) compared to last year. Although sales have decreased significantly within the $175,000 to $274,999 price range, the months of inventory remain much lower compared to homes in higher price categories.

In the table below you'll see the months of inventory for homes under $275,000 are at or below the Dane County average of 9 months. On the flip side, the months of inventory for homes $325,000 and up range from 10.1 months to 28.6 months.



It's interesting to note there are roughly the same number of homes on the market within the $200,000 to $224,999 price range (308 homes) as there are within the $400,000 to $499,999 price category (275 homes). However, more than twice as many homes sell each month in the lower price range - 50 homes per month versus 22 in the higher price category.

With fewer buyers out in the market for higher priced homes, sellers in the higher price ranges need to be especially competitive with their listings. Aggressive marketing plans, thoughtful staging, and sound pricing all play a very big role in getting homes sold at the higher price levels. For more information on marketing, staging and pricing, feel free to visit our Selling Real Estate page at DaneCountyMarket.com.