Market conditions on the west and near west side of Madison are optimal for sellers right now. In fact several neighborhoods stand out as very hot seller's markets due to historically low levels of supply. For example, all 6 of these west-side neighborhoods have less than a month of housing inventory.
Crestwood - Featuring Unique Properties and Unique Parks
Faircrest - Walk to Parks, Schools and the Neighborhood Pool
Hill Farms - Next Door to Hilldale Mall
Midvale Heights - Home of the Buffalo and Bike Path
Westmorland - Mid-Century Homes in a Convenient Setting
Wexford Village - Home to a Library, Restaurants, Parks and Pool
More Hot Neighborhoods on the West Side
Not far behind are Parkwood Hills, Sauk Creek, Sunset Village, and Walnut Grove. All of these neighborhoods have between 1.5 and 3 months of supply.
The Hottest West Side Neighborhood?
Hands down it's Midvale Heights. As of this post there are only .2 months of inventory available in the neighborhood. Amazingly, 11 of 12 listings in Midvale Heights have accepted offers and are scheduled to close soon.
Tips for Pricing and Selling in a Hot Spring Market
The springtime is the best time for sellers in Madison. A good spring strategy is to select a list price that's likely to attract multiple buyers. Once several offers are in hand, you can negotiate with all parties in order to bid up the price and obtain the best possible terms.
The appraisal process is another important consideration this spring. Low appraisals have become an issue as prices continue to reach new highs across all of Madison. Fortunately there are a few simple steps you can take to protect yourself against a low appraisal. We'll be sharing some tips on this topic very soon.
Remember, you can view all of our latest home-selling tips here. Check in often, as we'll be posting many more articles throughout the spring selling season.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred