May 2022

Found 9 blog entries for May 2022.

The word on the street is that Epic Systems has big plans to keep growing. We're hearing that Epic has designs to grow from roughly 11,000 employees right now to 20,000 employees by the year 2030. If these plans do materialize, Epic's growth trajectory will have a huge impact on our local real estate market for decades to come.

the word on the street in madison wi

Our local housing supply is already low, with just over 1,000 single family homes being built annually in Dane County. With Epic's continued growth, the Epic employee base will be absorbing a big portion of those thousand homes being built each year.

Which is one more reason why we believe Dane County will continue to be an ideal place to build wealth through real estate. Our county is currently the fastest growing region

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While we all know it's important to take care of our physical health, sometimes we forget that our mental health deserves attention, too. They both contribute to our overall well-being, but we’re often more likely to schedule a preventative doctor or dentist visit than make an appointment with a counselor or therapist. 

The last few years have been particularly challenging for people because of the COVID-19 pandemic, which the World Health Organization attributes to a 25% increase in prevalence of anxiety and depression worldwide, highlighting the need for more mental health services.

National Alliance on Mental Illness, America's largest grassroots mental health organization, seeks to fight stigma, provide support, educate the public, and

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Times are tough for a lot of people right now, but with so many employers struggling to hire good employees, we can’t help but think that this is also a time of tremendous opportunity.

Taking the Courageous Leap of Faith

To us, this seems like the ideal time for someone with good character and a solid work ethic to latch onto a company that aligns with their values and learn that business from the ground up. Someone who is willing to put in the work, learn and apply new skills each day, and be patient and persistent. If they keep at it, then who knows, maybe someday they’ll be running the company?

We do believe most of us are capable of creating better lives for ourselves. But somehow, we need to be able to take that leap of faith, to allow ourselves to know our true potential,

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According to our data from Showing Time, showing activity is decreasing right now, which corresponds with what we are seeing in our day-to-day work out in the field. Here's how showings are trending through the first 20 weeks of the year:

Madison WI Property Showings May 2022

Showings are decreasing in every price range, which is creating a better environment for buyers. On the flip side, sellers are beginning to learn that the fundamentals of pricing, presentation, marketing, and negotiation are becoming vitally important -- once again -- as more balance is beginning to return to our market.

What questions do you have about buying or selling a home in 2022? 

Our team of full-time professionals is here to help you successfully navigate any type of situation in any type of market,

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Lately, many realtors in the area have been noting how the market appears to be a little less intense these last few weeks, and the numbers tend to agree. Here's some fresh insight into the Madison area real estate market with a quick look at listings, showings, and mortgage rates. 

First, the number of available listings is increasing.

In fact, inventory levels right now are the highest they've been all year. Buyers have more properties to choose from right now than in any other point in 2022. 

Madison WI Active Listings May 21 2022

Competition is decreasing. 

As inventory has been increasing, the number of scheduled showings has been moderating. These two trends point to fewer competing offers in the weeks and months ahead. 

Madison WI Property Showings May 2022

Interest rates have been rising. 

More

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Dane County condo prices continued to reach new highs in the month of April. Here's our latest Madison area condo market update -- covering prices, sales, inventory, days on market, and more. 

Condo prices

The average price per square foot jumped to $205 in April, which was a new record for our market. Prices were up 11% year-over-year and up 10% year-to-date. 

Madison WI Condo Prices April 2022

MLS listings

New listings continue to enter the market at a slow pace, which is one of the reasons why condo prices continue to rise in Dane County. Only 177 condominiums were listed for sale in April -- one of the lowest totals on record for the month. New listings decreased by 6% year-over-year and by 8% year-to-date. 

Madison WI Condo Listings April 2022

Months of supply and available listings

As of May

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Dane County home prices increased by 12 percent in April, as low supply and high demand continued to be the two big themes in early 2022. Here's our latest single family home update covering all of the most important trends in Dane County.

Dane County home prices

The price per square foot increased to $213, a new record for our market. Madison area home prices were up by 12% in the month of April and by 16% year-to-date. 

Madison WI Home Prices April 2022

New MLS listings

New listings continued to enter the market at a slow pace. Only 681 single family homes were listed for sale in the month of April, which was the third lowest total for the month dating back to the year 2000. Dane County listings were down by 10% in April and by 13% through the first four months of the

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Our friend, Jim Schumaker, is an amazing photographer. But it hasn’t always been this way. As Jim will tell you, photography was once just a hobby for him. Only over time has he come to view it and practice it as a form of art. Now Jim uses photography as a way to “pay tribute to nature’s beauty” and to “pay homage to our precious planet’s fragility”. 

Jim’s website, natureandhumanphotography.com, curates many of his photos from his life in Wisconsin and his travels around the world. Check it out, and you’ll be moved by his images that capture the extraordinary beauty of our planet and the wildlife and the people that inhabit it. 

Jim Schumaker - Children

You might also notice from his website that Jim has a history of giving his art away. Over the years Jim has donated

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At best, working with a distracted realtor can be frustrating. And at worst, risky and dangerous. For example, imagine negotiating your home inspection when your agent is distracted. The consequences can be huge when your agent isn't dialed in.  

Distracted Realtor

Is your realtor fully present with you and your best interests? 

Here are 3 questions that will help you discern the quality of your agent's attention.

#1) Does your realtor pick up the phone and return your calls promptly? Going a step further, is your agent eager and willing to meet with you in person? In the world of real estate, where the stakes are often high, sometimes there is no substitute for an old-fashioned conversation.

#2) Does your agent respond to your texts and emails in a thorough

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