Here's how the 2008 Dane County condo market through the month of September compared to the market from the first 9 months of 2007. All data comes from the South Central Wisconsin MLS:
- Median price: increased by .6% from last year.
- Active listings: decreased by 10.4%.
- Sold listings: decreased by 27.8%.
- Months of inventory: increased from 15.7 to 18.4, an increase of 2.7 months.
- Months of total required marketing time for the average Dane County condo: increased from 15.9 to 19.5, an increase of 3.6 months.
The good news for the condo market is that active listings are down from last year and the median price is holding steady. Of course many condos being sold this year come with very aggressive buyer incentives. That's because there are still a large number of unsold condos on the market as sales continue at a sluggish pace.
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:
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