Because of statistics like these:
Dane County condo sales were lower by 39% in February and 40% year-to-date.
Dane County home sales were lower by 25% in February and 29% year-to-date.
If you need to sell, now is the time to get your pricing right. Don't misinterpret median price statistics. The median price measures how much buyers are spending when they make their purchase; it doesn't measure how home values are changing over time. In many locations buyers this year are getting much more home for their money than buyers from last year.
If you're tracking our market, the sales volume stats are the most important ones to watch. When home and condo demand starts trending significantly higher, then sellers will begin to gain some leverage. Until that time buyers will have the upper hand (with some exceptions).
You'll find our preliminary report on the month of February at DaneCountyMarket.com.
Have a good one,
Dan Miller, Keller Williams Realty and DaneCountyMarket.com
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