Dane County home and condo inventory stood at 4,368 units on December 31st - 229 lower than the inventory level from 12/31/2007. The graph below shows inventory dipped to its lowest point of the year (green = condos, blue = homes, purple = homes and condos combined).
The graph also shows how inventory varies with the seasons. Take a look at last year. Home and condo inventory grew by 1,070 units from 12/31/2007 to 4/30/2008 as many sellers listed their properties in time for the peak buying season.
We'll see a similar trend this year. This means buyers will have more to choose from this Spring, but along with that a lot more competition from other buyers. And although it's a down market, many properties will sell quickly this Spring due to the seasonal flood of buyers - especially in areas and price ranges where inventory is low.
There's one other interesting thing about the graph above: there weren't any seasonal ebbs and flows of inventory during 2005 and 2006. Inventory kept rising as new properties flooded the market. All of this happened as the demand for housing started to subside.
For more inventory information, check out our full set of reports on the buying real estate and selling real estate pages at DaneCountyMarket.com:
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