April is the perfect time to sell a home in Madison. In fact it may be the best month out of any month in the year to put your home on the market. Below we offer 5 reasons why right now is an excellent time to sell your home.
Reason #1: Seasonality
Year in and year out April is one of the hottest months for real estate in Madison. In 2015, more offers were submitted and accepted in the month of April than in any other month of the year. If your goal is to list your home when buyers are most active, April is the month to make it happen.
Reason #2: Low Supply
Housing supply remains unusually low in Madison. As of this post there are only 1.3 months of inventory available for sale in the single family home real estate market. This historically low level of supply offers a time of unprecedented opportunity for Madison area home sellers.
Reason #3: Market Momentum
As of this post, an amazing 52% of all Madison single family home listings have an accepted offer. The market this Spring is a lot like an auction for a rare piece of art. Many sellers are receiving multiple offers as buyers compete against each other and bid up prices for a limited supply of homes.
Reason #4: Rising Prices
Madison home prices are rising and reaching record highs in this market of high demand and limited supply. Our most recent data shows the average price set a new record in the month of February.
Reason #5: Low Mortgage Rates
Interest rates are very low right now but predicted to rise later this year. At UW Credit Union, the current rate for a 30 year fixed rate mortgage is only 3.625%. Cheap money is one big factor that is driving the demand for real estate. As the graph below shows, rates right now are very near historic lows.
How much is your home worth in this year's market? Your home may be worth way more than you think.Contact usanytime you'd like an objective evaluation of your home. We'll help you determine how much your home will sell for in 2016.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred