Mad City Dream Homes Real Estate Blog, Madison WI

You could be waiting for a long time, and perhaps, many years. 

Buying your Dream Home

Why do we expect prices to remain elevated?

The big reason is consistently low supply.

And one huge factor driving low supply is our region's rapid population growth. Dane County is currently the fastest-growing region in the state, and according to a recent study by the Capital Area Regional Planning Commission, that trend will continue. The study projects the county's population will grow by more than 200,000 residents by the year 2050.

And yet there's very little new supply in the pipeline to accommodate that growth.

Yes, Dane County has added hundreds of new housing developments over the last decade, but most of that new construction has been for apartments, not homes

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Recently a friend called us and asked for a referral to a trusted lender. Her daughter Emma, a first-time home buyer, was already talking to a mortgage lender. But Emma wasn't getting the time and the information that she needed to better understand the mortgage process.

So we referred Emma and her mom to Karen Wedvick from Wintrust Mortgage. And as it turned out, Karen's approach was exactly what Emma and her mom were looking for. Karen gave Emma a great introduction to the mortgage process and helped Emma map out all of her next steps. 

Emma's story is a common one. With so many lenders to choose from in the Madison area, sometimes it can take a little time to find the right fit. 

At Mad City Dream Homes, we're always available to refer you to

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For our client Mason, it actually took 4 of us to get the job done. And the truth is, due to all of the challenges that we encountered along the way, it would have been difficult for any one of us to complete this sale on our own. 

A team approach to selling

Mason’s sale was a great example of how we value teamwork:

For you, our client, we're always customizing our approach as we draw upon the skills and expertise of our entire team. And for our team members, and fellow realtors, we're always here to lend a helping hand whenever they need our support.

Thank you Max, Ann, Shelley and Dan for helping Mason to get to the finish line. It was a true team effort!

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Here's our latest Dane County condo update, which offers some good insight into our new and evolving market. Do you have questions about your condo's current market value? Please contact our team for a helpful consultation.

Dane County condo prices

The price per square foot jumped from $184 in October of 2021 to $209 in October of 2022. That's an increase of 14%. Through the first ten months of the year, condo prices were up 11%.

Madison WI Condo Prices Oct 2022

New condominium listings

One reason condo prices remain high is that new listings continue to enter the market at a slow pace. A total of 107 condo listings entered the market in October, which was the lowest October total in the last 20 years.

Active condo inventory

Housing inventory across the country

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Here's our latest scoop on the Dane County single family home market. Do you have questions about home values in your neighborhood? Contact your Mad City Dream Homes realtor for a helpful conversation. 

Dane County home prices

This may come as surprise to some: The price per square foot jumped from $191 in October of 2021 to $218 in October of 2022. That's an increase of 14 percent. Year-to-date, Madison area home prices are also up by 14%. This recent blog post offers a closer look at all of the latest home price trends in Dane County.

Madison WI Home Prices October 2022

New MLS listings

One big reason prices remain high is the lack of fresh supply. Only 396 Dane County homes were listed for sale on the MLS in the month of October, which is the lowest total on record for

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Congrats to our clients who have enjoyed some very successful sales in the month of October!

  • To Kathy M, who received a full-price offer for her westside condo. 
  • To Kathy I, who sold her Fitchburg condo for the full list price. 
  • And to Ted and Kelsey, who received multiple offers and sold their Madison home for $50,000 above the list.

Thank you Chris and Ann for helping your clients successfully navigate our new and evolving market. We appreciate the personal attention and professional care you bring to every client!

Mad City Dream Homes Fall Sales

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Congratulations to our fall buyers, who are making the most of this new season in real estate:

  • To Ted and Kelsey, who purchased their home in Stoughton for $4,900 below the list price. 
  • To our client Brenton, who bought his near west side condo for $9,000 below the list. 
  • To Chad and Samantha, who purchased their east side home for $10,000 below. 
  • To our client, Mason, who bought his move-up home for $14,900 under. 
  • And to Dan and Erica, who moved into their dream home in the country for $24,900 under the list. 

All 5 of these stories are great examples of how good planning, local expertise, and skillful negotiation are so beneficial to buyers in today's market. And why having a strong buyer advocate can make all the difference. 

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Deep down inside, we all aspire to be productive members of society, to be a contribution to others, and to immerse ourselves in a vocation that allows us to do meaningful work. And thanks to you, we have the opportunity to pursue meaningful work each day. 

With this spirt in mind, we want you to know that we would love to meet with anyone you know who's in search of more meaningful work and who's curious about a career in real estate. Especially if they're a generous, hardworking, and humble person. Based on our experience, it's the generous, hardworking and humble person who tends to thrive in the world of real estate and enjoy a long and fulfilling career. 

Thank you to all of you who give us the opportunity to pursue meaningful work each day. We

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Would you have peace of mind?

Would you have financial peace? 

And would you be excited? 

We often ask our clients these 3 questions as they consider a big purchase. When they answer "yes" to all three, then that's a sign that they're about to make the right decision. 

These questions are a reminder to us that we all have important questions to address in every season of life. And there's no time like the holidays to reflect on the ones that help us choose a new and better direction.

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How are home prices trending in the Madison area? Here are a few observations which offer some good insight into the Dane County single family home market. 

First, home prices are trending higher at all points along the price spectrum.

Based on our review of the October data, home prices are up significantly at every point along the spectrum. At the lower end, the mid-range, and the high-end -- all price points are trending higher. 

Madison WI Oct 2022 Home Prices

What the data doesn't show.

What these numbers don't show is that buyer demand has decreased noticeably. Because buyer activity has decreased this fall, sellers are experiencing fewer showings and receiving fewer offers. And most important, a greater percentage of sellers are seeing their home sit on the market

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