It came later than expected this year, but the hot spring real estate market has officially arrived to Madison. Right now over 50% of the home and condo listings in Madison have an accepted offer, which is one of our key indicators of a fast-moving market. Last year, the market hit this milestone in the month of February. This year, the market didn't reach this mark until the month of April.
Why was the spring market delayed in 2019?
Certainly, weather was a big factor. This year's long and unusually harsh winter caused both buyers and sellers to delay their plans for this year's market. Higher interest rates in early 2019 were also a factor, but then rates dropped at the end of March and the market responded positively.