Single Family Housing Demand Still High
This fall season is proving to be a very favorable market for local home sellers. Many properties being listed on the market are receiving multiple offers and selling very quickly. This is great for sellers, but makes for a very competitive market for buyers.
In the month of September, Dane County accepted offers increased by 26% and reached the second highest level on record. Home sales reached a new high increasing by 40% compared to last year at this time. Along with rising sales and offers, the area home prices set a new record last month and increased by 9%. The average price per square foot in the area is currently $169-the highest it has ever been.
Inventory is low which means finding a home can be a challenge. Especially if you are in the price range of $150,000-$350,000. Much like anticipated, home prices continue to rise as inventory continues to be tight. With the demand of single family housing so high, more people are making the choice to build new instead of trying to compete for an existing home.
The real estate market continues to be a seller’s market. But do not let that stop you from finding your dream home. Whether you’re looking to move out of the city, upgrade or downsize, we’re ready to help you build your dream home in the Sauk Prairie area. Contact us today!