About 19.5 months (593 days), based on our year-to-date calculations using data that is available from the South Central Wisconsin MLS. Last year's average through the month of June was about 15.9 months (485 days).
For frame of reference, the average time required to sell a Dane County condo during the first 6 years of the decade was consistently in the range of 5 months (about 150 days).
Why are the Dane County condo numbers so high? Due to the large increase in condo supply and recent decrease in condo sales. Many new condos have entered the market in the last 2 to 3 years and have yet to sell.
Keep in mind that the numbers listed above are averages only. Plenty of condos end up selling more quickly than the average. And quite a few end up taking more time to sell.
For related articles you can visit these pages at DaneCountyMarket.com:
- Days on Market Trends, updated monthly with stats on the local condo market.
- Selling Real Estate, for articles and tips on selling real estate in Dane County.
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