Friday, October 21, 2005

Dane County Real Estate: Buyer's Market

by Tom Bozzo

Looks like high prices and rising interest rates are denting the local real estate market. Some statistics reported in today's Cap Times:
The overall inventory level is not what would normally be considered excessive, though it's now high enough to constitute a potential shock for sellers expecting to list today and sell tomorrow — unless they're selling exceptionally nice and not exceptionally high-priced houses. The high-end sluggishness is much more pronounced, though, confirming what I'd noticed in the near west side listings (even very nice houses not moving much at the prevailing prices) and suggests that maybe the supply of suckers isn't infinite after all.

It's a little scary to imagine the situation if the local economy were bad.
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