Dane County months of inventory DECREASE

Dane County home and condo inventory stood at 10.3 months on November 30th, down from 10.8 months on November 30th of 2008. That's the first time inventory has decreased on a year-over-year basis since we started tracking this statistic in 2007.

Inventory for homes only stood at 7.8 months on November 30th, down from 8.2 months a year ago. Condo only inventory stood at 18.7 months, compared to 18.9 months a year ago.

This is an encouraging trend, but keep in mind much of the inventory depletion has been in the lowest price categories due to the implementation of the first-time home buyer tax credit. As you'll see below, inventory varies significantly by price range.

Here's how inventory varies by price range for homes only.

And here's how condo only inventory varies by price range.

Generally speaking, today's sellers have the most leverage in the home category for properties priced at $275,000 and under. Buyers have the clear advantage in the higher priced home categories, and in all price categories of the condo market.

For information on how home and condo inventory varies by location, you can check out the buying real estate page at DaneCountyMarket.com.

Have a good weekend,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com