There's a lot of inventory waiting to be purchased. Right now 7% of all Dane County condo listings are "under contract" (the number is 18% for homes). These are the condos that are recorded in the MLS as having an accepted offer. Some of these offers still need to clear hurdles such as financing, inspection and sale of home contingencies. Others have cleared all contingencies and are waiting to close.
As you'll see below, the percent under contract varies a lot by price range.
For more on the Dane County condo market, check out the real estate trends page at DaneCountyMarket.com.
Have a good weekend,
Dan Miller, Keller Williams Realty and DaneCountyMarket.com
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