Dane County June Market Update

June 2023 Market Statistics for Dane County, WI

How does this June compare to the last 10 years!

We just completed a unique month of June in Dane County. In the chart above it shows that prices have increase again year of year for June. While the rate that it has increased has slowed compared to the last two years prices have still increased 3.5% compared to last June. We are still seeing strong competition and the market is far from cooling off. With an average time on market of 7 days houses are still selling quickly.

The unique aspect to June this year is the drop in the number of new listings on the market and as a result the lower number of sales. There where 17% less homes listed this June compared to last June and down 29% from June of 2021. These numbers may seem alarming, but most home owners bought when interest rates where lower and have been hesitant to make a move in the current market.

Moving forward we expect the number of listings to stabilize and not continue the current drop. Normal life changes for homeowners will always drive sales to some extent. New construction has also picked up to help absorb some of the buyer demand that we are currently seeing.