January was quite the stretch for much of our area with a combination of record low temperatures, heavy snow falls, and no Packer games to keep our minds off it all. It’s often said that the Super Bowl is the start of the spring market around Dane County and now that we are a week in February we are definitely starting to see things heat up.
Since we love our town we keep the focus on Oregon and the unique aspects of our local market. Here’s the current state of the market in Oregon as we enter the early phases of the 2019 spring market.
1. Sales remain strong. 2018 was the third best year on record for Dane County and January sales in Oregon were the highest since 2015. This shows us that demand for homes is strong in our area and we expect it to remain that way throughout the year.
2. Oregon had 30 active single family homes at the end of January 2019. This is down over 25% from the same time last year, but up 25% from the end of December. There is little competition for homeowners looking to sell today but this will change quickly as we head deeper into our spring market.
3. Only 2 existing properties are available in the $400,000-$500,000 range. These homes only make up 6% of active inventory while representing 12% of last years home sales. Homeowners looking to sell in this price point should be in a great spot provided their home is still priced appropriately.
For Sellers: Chances are it’s a great time for you to hit the market. However, you still need to do things the right way. Sellers who skip the important steps may get an offer, but they won’t see the real payoff they are probably looking for in today’s market. Smart pricing, effective preparation, and strong marketing are still key to a great sales process.For Buyers: Patience is key, but you must be ready to pounce. Get your pre-approval squared away, connect with a great agent, and you’ll be ready to go when the right home hits the market soon.