Dane County, WI Housing Market Update: 4 Signs of a More Neutral Market

While affordability remains a challenge for many, buyers who are financially ready are wondering if now is a better time to buy. Here are four signs that the market may be tilting toward more favorable conditions for buyers.

1. Homes Are Staying on the Market Longer

One of the clearest indicators of a more balanced market is how long homes are sitting before they sell. When listings linger, buyers have more room to negotiate—sometimes even snagging a home for less than asking price. The average days on market for Dane County is 37 days, which is up from last year at this time of 28 days. Want to view listings before they go public? Check out this list of properties.

2. More Buyers Are Using Contingencies In Their Offers

Another signal of changes in the market is contingencies are back. We typically suggest using contingencies for items such as a home inspection and financing unless it might jeopardize you getting the property when competing. Well that was the case for most of last year in our area. Though using contingencies still may be a case by case recommendation here locally.

3. Sellers Face More Competition

Inventory is rising, giving buyers more homes to choose from and making it harder for sellers to stand out. An uptick in available homes means buyers have more leverage. The number of listings here in Dane County is down from this point last year.

4. Sellers Are Cutting Prices

With more competition and fewer interested buyers, sellers are making price cuts to attract offers. Thus making sellers do a little bit more to entice buyers. We have seen a slight increase in price drops.

Bottom Line: Dane County Is Still A Sellers Market

Though interest rates may have cooled the sellers market in Dane County, WI, there just isn’t enough inventory to turn the tide yet. With less than 3 months inventory here, sellers are still in control. So working with an agent that writes offers frequently is important. They know what is going to win in today’s market. Being prepared to write an offer is key. Make sure you get pre-approved before looking at properties. Contact one of our preferred lenders.

The Huemmer Home Team
LPT Realty