Monday, April 19, 2021 / by Ryan Huemmer
March home sales in Dane County continue to surge due to record low mortgage interest rates and an inventory shortage. Dane County's median home price was $350,000 in March, which was up 16.67% from last March.
This chart shows increased median home values, month over month, for the previous 5 years. Dane County is showing super strong levels of appreciation with continued growth year over year too.
Dane County had 598 homes sold in March which was down from total homes sold last March of 619. Though a 3.4% decline indicates less sales, it's only due to less inventory as demand far exceeds availability.
As buyers continue to battle over limited listings in Dane County, home prices continue to soar. Median home prices went from $316,500 in January, $334,900 in February to $350,000 in March. We fully expect the demand to exceed the availability of homes the entire year. Which will result in rising prices throughout. The 30 yr fixed moved up slightly over the last month to 3.00%. Increasing speculation of mortgage rates being on the rise for 2021. Don't wait for a "dip" in the market. That "dip" isn't coming anytime soon. Cost of construction, specifically lumber, is at record highs meaning affordable inventory will not come to the market. Buy now and benefit from property appreciation and eliminate future increased cost of housing both as a renter and home prices.
Cambridge - bit.ly/CambridgeHousingUpdate
Columbus - bit.ly/ColumbusHousingUpdate
Cottage Grove - bit.ly/CottageGroveHousingUpdate
Cross Plains - bit.ly/CrossPlainsHousingUpdate
Deerfield - bit.ly/DeerfieldHousingUpdate
Deforest - bit.ly/DeforestHousingMarket
Fitchburg - bit.ly/FitchburgHousingUpdate
Madison - bit.ly/MadisonHousingUpdate
Maple Bluff - bit.ly/MapleBluffHousingUpdate
Marshall - bit.ly/MarshallHousingUpdate
McFarland - bit.ly/McFarlandHousingUpdate
Middleton - bit.ly/MiddletonHousingUpdate
Monona - bit.ly/MononaHousingUpdate
Mount Horeb - bit.ly/MountHorebWIHousingUpdate
Oregon - bit.ly/OregonWIHousingUpdate
Stoughton - bit.ly/StoughtonWIHousingUpdate
Sun Prairie - bit.ly/SunPrairieHousingUpdate
Verona - bit.ly/VeronaHousingUpdate
Waunakee - bit.ly/WaunakeeHousingReport
Windsor - bit.ly/WindsorHousingUpdate
Do you want to know how much your home is worth? Click http://bit.ly/yourhomevalue2021
The Huemmer Home Team
608-279-5424 (call or text)