We'd like to pass along that we continue to receive excellent feedback from our clients about Gorilla Movers, Above Average Moving, and A1 Movers. All three of these companies are easy to schedule and easy to work with -- and their crews take care of your precious cargo.
Madison area condo prices increase in February
Madison area condo prices rose from $202 per square foot in February of 2023 to $235 in February of 2024. That's a 16 percent year-over-year increase. Note these numbers are based on a low number of sales in the month of February. We'll gain a clearer picture of price growth as we accumulate more data throughout the year.
Dane County condo prices
New condo listings
A total of 153 Dane County condominiums were listed for sale in February, compared to 100 the year before. Listing activity remains light, but this is a step in the right direction.
Active condominium listings
"Active" or "available" listings are those that don't have an accepted offer. Although Madison area condo inventory remains tight (with only one month of supply),
…Community guides for you
Just a quick reminder that we have hundreds of neighborhood and condo association guides for you to peruse and use.
So if you're in the mode of researching neighborhoods, our Madison and Dane County neighborhood guides are excellent resources for you. And if you're curious about condos, our city and suburban condominium guides offer a great introduction to hundreds of local associations.
If you'd like us to create a guide for your neighborhood or condo association, just let us know. We'd be happy to do this for you.
Browse Community Guides Here
Madison area home and condo listings increase in February
We continue to see encouraging signs in the trends for new MLS listings:
For the 4th straight month, Dane County single family home listings increased year-over-year.
While condo listings increased significantly in the month of February.
It's true, the supply of new listings remains low by historical standards, and the market remains very competitive for buyers. But if these trends do keep up, buyers will find more opportunities to purchase in the months ahead.
Stay tuned for our full reports on the February real estate market, which we'll be releasing real soon. For more recent market updates, check out our market blog.
Planning for a successful sale
Last fall we met with our clients in Verona to discuss selling their "retreat in the woods" this spring. As we made our plans, we decided to shoot the exterior and aerial photos during the autumn season while the weather was favorable and the trees were still full of leaves.
This turned out to be a great decision.
The fall photos were a big reason why this listing attracted dozens of showings and 9 tremendous offers. And they’re a great example of why it pays to be proactive and meet with your realtor well before you need to sell.
You get to choose
Some people believe that you don't need to hire a professional in this market, that a house can basically sell itself. To a certain extent, this is true. You can place a sign in your yard, or you can sign up with a limited service broker, and your house can sell.
But at what cost to you? Our feedback and research suggest that hiring a professional will bring more buyers to your sale, buyers who write cleaner offers and for higher prices.
The good news for you is that it is a free market. You have a multitude of agents and models to choose from, and you get to choose the agent and the model that you feel are the best fit for you.
How much over list price are properties selling for?
Our review of the MLS home and condo database shows the average Dane County listing sold for .2 percent above the original list price in 2023, while our clients sold for 2.1 percent above the original list.
Put another way, for the typical $450,000 listing, our sellers net more than $8,500 more toward their bottom line. This is more clear evidence that hiring a professional matters. How your agent prices, stages, markets and negotiates -- all of it matters. Contact us for more info.
Making good decisions
One of the best ways we can be of service to you is to help you make good decisions. For example:
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What repairs and updates should you address before selling your home?
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Should you enter the market right now or wait for the market to change?
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Which lender should you use to finance your purchase?
- Should you write an offer on this property or keep searching for a better fit?
Decisions like these often come with big consequences: Problems encountered versus problems avoided. Dollars spent versus dollars invested. And opportunities gained versus opportunities lost. For each decision you face, we're here to help you make the right call.
How often do sellers receive cash offers?
Our numbers from the South Central Wisconsin MLS database show 24% of all Dane County home and condo listings closed with cash offers in 2023, while our team's performance was 44%.
It's more clear proof that the fundamentals -- the pricing, staging, marketing, and negotiation -- matter. Here's more info about our home-selling results.
Positive change
Some people believe that it's nearly impossible to buy in this market. But we want you to know that you can achieve your homeownership goals when you have a good plan and the right team supporting you.
Last year we helped 76 clients buy real estate across South Central Wisconsin, and we can help you and yours prepare for a successful purchase this year, too. When you embrace an action-oriented mindset and chip away at your goals each day, positive change can come your way sooner than you think.
Call us to get started. We'd love to help.