The year in review - the 2008 condo market

Here's how the 2008 Dane County condo market compared to the market from 2007. All data comes from the South Central Wisconsin MLS:

• Median price: increased by .1% from 2007.
• Active listings on 12/31/2008: decreased by 2.3% from the level on 12/31/2007.
• Sold listings: decreased by 27.7% in 2008.
• Months of inventory on 12/31/2008: increased to 17.2 from 13.8 on 12/31/2007.
• Months of total required marketing time for the average Dane County condo: increased to 22.3 from 16.6 months in 2007.

If you're looking for more information on the local condo market, you'll find the market updates below useful. All can be found on the real estate trends page at DaneCountyMarket.com:

• A year-to-date market snapshot, covering 9 different locations
• How condo prices have changed over time
• How condo sales have changed over time
• How listing success rates have changed over time
• How marketing time requirements have changed over time

Have a good day,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com