As of April 30th, the combined months of inventory for Dane County homes and condos was 7.3 months, down from the 11.3 months registered a year ago. This measure is based on the number of active listings and the average monthly sales volume from the preceding 12 months.
Looking at homes alone, the months of inventory stood at 6.6 months, down from 9.7 months in March of 2012.
Inventory for Dane County condos stood at 9.8 months, down from 17.9 months a year ago.
(Note from the graph we started tracking the months of inventory for single family homes and condos separately in May of 2007.)
Lower inventory is the big story for Madison area real estate in 2013. With more demand and fewer active listings, rising prices will be a dominant theme throughout the year.
This graph shows the combined home and condo months of inventory for every April dating back to 2005. As the graph shows, the 7.3 months of inventory in the Dane County market represent the lowest inventory level since 2006, and a 41% drop from the peak year of 2009.
This graph shows the single family home months of inventory (excluding condos) for every April dating back to 2008. As the graph shows, the 6.6 months of inventory in April represent the lowest inventory level in the last 6 years.
This graph shows condo months of inventory (excluding homes) for every April dating back to 2008. As the graph shows, the 9.8 months of inventory in April represent the lowest inventory level in the last 6 years, and is 54% lower than the peak year of 2009.
How active listings have changed over timeMonths of inventory by location - homesMonths of inventory by location - condosMonths of inventory by price range - homes and condos
This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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