Mad City Dream Homes Real Estate Blog, Madison WI

If you've been thinking about a new look for your kitchen, you've probably been thinking about replacing your kitchen cabinets. Our team recently met with local business owner Dale Tomalin, who showed us a more cost-effective approach than replacement, and we were impressed by the finished product. 

Dale is the franchise owner of Spray-Net of Southern Wisconsin, creators of a painting technology that is flexible enough to avoid cracking, hard enough to avoid chipping, and smooth enough for washing. Dale's product transforms old kitchen cabinets by giving them a brand new, factory finish look. His work also comes with a 15-year transferable warranty. 

For more information, you can check out Dale's reviews on his Google Business Page. And for a

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If you do a Google search to learn more about the housing market, these are some of the headlines and articles that you will find: 

  • Home prices are finally declining…
  • Home prices just broke a decade-long streak…
  • Housing Market: Home Prices Post First Yearly Decrease In 11 Years…

Once you get past the headline you might see details similar to what was posted on  

"Regionally, prices fell more from a year ago in the West (down 5.6%) and Northeast (down 4.5%), where housing is more expensive. But prices were still climbing from last year in the South (up 2.7%) and the Midwest (up 5%)."

It is important to look past the headlines and talk to local experts. Prices are not declining in Dane County. Our latest market update shows

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If you're thinking of becoming a first-time homeowner in 2023, it can be helpful to think of your home-buying experience as your opportunity to "get your foot in the door". 

buying your first home in Madison WI

In other words, the home you buy this year may not be your perfect home, in your perfect location, and at your perfect price. But it can be the home that helps you "get your foot in the door" for creating a better life -- and building a stronger foundation.  

Just by paying your mortgage each month, and by making the right improvements, you can start building equity right now that will help you move up to your next home a few years down the line. This is the perspective that many of our clients are adopting in 2023, and it’s this mindset that’s helping them experience their

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As of right now there are only 367 homes for sale across all of Dane County, and only 83 condos. At the same time, Epic Systems just announced that it's getting ready to hire 1,700 new employees. This is just one more reason why we anticipate strong prices in the year ahead, despite the recent news and uncertainty about the larger economy. 

Do you have questions about the market in your neighborhood or your condo association? We're always available to share our insights and observations, and answer all of your questions. 

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Dane County condo prices continued to rise in February, as buyers continued to compete for a limited supply of condominiums. Here's our latest condominium update, covering all of the latest trends in Dane County -- updated for the month of February, 2023. 

Dane County condo prices

The price per square foot increased by 7 percent year-over-year, while the median and the average price increased by 24 percent and 23 percent, respectively. Keep in mind these numbers are based on a relatively small number of sales in the month of February. We fully expect the median and the average prices to moderate as we accumulate more sales data this spring. 

Madison WI Condo Prices Feb 2023 

New MLS condominium listings

Only 96 condo listings entered the market in February, which was the

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Dane County home prices continue to move higher in early 2023, but by smaller margins compared to the large increases in 2022 and 2021. Here's our comprehensive report on the Dane County single family home market -- updated for the month of February, 2023. 

Dane County home prices

The price per square foot increased 3% year-over-year. The average price and the median price were up 2% and 5%, respectively. 

Madison WI Home Prices March 2023 

New MLS listings

A lack of fresh housing supply continues to support high prices here in the Madison area. MLS listings decreased 23% from last February and were the lowest on record for the month. 


Dane County housing starts

New construction also continues at a relatively subdued pace. Current construction levels are well

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Here's how Dane County single family home inventory is trending:

Available listings are up year-over-year, which is a result of fewer people buying in 2023. It's important to note that inventory is still very low from an historical perspective, and we're expecting supply to remain low and prices to remain strong for the foreseeable future. Right now there are only .7 months of inventory available in all of Dane County.

Madison WI Home Supply March 2023

And here's the trend for condominiums:

There are actually fewer available condos for sale right now than there were a year. One of the reasons for lower condo supply is that very few new construction condos are entering the market 2023. Just like homes, we have only .7 months of condo supply available in the whole county. 

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Most of our home and condo selling clients start working with us several months, and sometimes several years, before the for sale sign is posted in the ground. Very often this means we're helping our clients identify the simple cosmetic projects that add real value to their home. For example: choosing paint colors and painting projects, installing new light fixtures and new cabinet hardware, and installing new flooring -- to name a few. 

Mad City Dream Homes Cosmetic Updates

But sometimes, due to challenging circumstances, our clients need an extraordinary amount of support, and we assume the role of general contractor. This was the case for our clients, Luke and Pat, who gave us the keys to their home and an $11,000 budget to address a few cosmetic updates. Ann and Dan stepped in as

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When you think about it, these numbers from the Mortgage Bankers Association are pretty shocking. Right now, applications for purchase loans (excluding refi's) are running 44 percent below the levels from a year ago and at the slowest pace in 28 years. 

Mortgage Applications March 1st 2023

And yet, prices keep rising. How can this be? 

Well, one thing we keep learning, based on our daily work in the field, is that we have a significant amount of pent up demand in the Madison area. And although we have no way of measuring it, there's no doubt in our minds that we have tens of thousands of residents here in Dane County who would love to buy a home if there was enough inventory to accommodate.  

The other elephant in the room is that new listings continue to enter the market at the

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We're all familiar with these common realtor stereotypes:

Realtors are all about the 3 percent.

Realtors don't work hard for the money.

And realtors have big egos, to name a few.

But when you hire Mad City Dream Homes to assist you with your purchase or your sale, we believe you'll find us to be generous, hardworking, and humble -- and always eager to help. We're grateful for the opportunity to serve you and for the trust you place in our team. 

Thank you and sincerely, 

Your friends at Mad City Dream Homes

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