Mad City Dream Homes Real Estate Blog, Madison WI

There are many reasons why Dane County property owners can feel good about their investment. Here are 5 big reasons why the greater Madison area is one of the best places in the country to own a home, condo, or investment property. 

Madison WI - A Great Place to Own Real Estate

5 reasons why Madison is a great place to own real estate

A strong local economy

The greater Madison area is blessed with many thriving businesses and one of the lowest unemployment rates in the country. Innovative companies like Epic Systems, Exact Sciences, and others are fueling growth by adding a variety of new, high-paying jobs to our economy. 

A high quality of life

The Madison area has a strong reputation throughout the country for being a great place to live and work. The University of Wisconsin, a

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The Dane County real estate market is always changing, but one dynamic we can continue to count on is low inventory. Here are a few reasons why the supply of Madison area homes and condos will remain low for the foreseeable future. 

Madison WI Real Estate Inventory

Why Madison area housing supply will remain low next year

1) A low supply of new construction homes and condos

Although it may seem like there are a ton of new construction homes and condos being built in Dane County, much of the new construction growth in the area has been for commercial space and apartments. New home construction has been running well below historical highs for the last 14 years (see graph below). New condo construction has been very scarce and insufficient to meet the demand in the

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The Dane County real estate market set several new records in the month of October. Here's our short review of the numbers for both the single family home and condo markets. 

Price per square foot

Dane county home prices established a new high for the month of October. The price per square foot increased by 3% year-over-year and 3% year-to-date. 

Madison Area Home Prices Oct 2019

Condo prices also reached a new record high in October. The condo price per square foot increased by 9% year-over-year and by 4% year-to-date. 

 

Accepted offers

Single family home accepted offers established a new high in the month of October, increasing by 3% year-over-year and decreasing by 1% year-to-date. We expect solid sales totals in November and December based on the number of

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Jennifer and Jordan Hegerfeld worked with Maureen Moran as they were getting ready to buy their first home. The couple found themselves with an accepted offer on their ideal condo, but there were hitches with securing the mortgage. Read on for the story of how Maureen’s persistence helped these first-time homeowners successfully purchase their new home.

Ready to become homeowners

Jennifer and Jordan began searching for their first home in March of 2019. They were ready to have a place of their own with more space, in a great school district for their child. At first, they considered single family homes, but most of the properties in their price range were fixer uppers and not in move-in condition. They found themselves looking for condos, which

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For many, pets are family. Their companionship brings us joy and laughter; and losing them can cause immense heartache -- especially if a cancer diagnosis is involved. Cancer causes almost half of deaths in pets over the age of 10, according to the American Veterinary Medical Association. Since several types of cancer commonly found in pets are also found in humans, treatment options are often similar but also expensive. 

Local resident Beth Viney learned this the hard way when her Great Pyrenees, Czar, passed away in 2013 after 19 months with osteosarcoma (bone cancer) and a leg amputation. This gentle giant had been a therapy dog for five years with the Pet Pals program, bringing smiles and hope to those fighting cancer and illness in our

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Imagine you and your buyer agent have been looking for the right home for the past few months, and now you know you've found the right one. You're excited by the possibilities of owning your next home, but you realize you need guidance on how to structure and negotiate your offer to purchase. Here are five great questions to consider before you and your agent draft your offer. 

5 questions for offer to purchase

5 questions to ask before writing your offer 

1) What is important to the seller?

Having your buyer agent ask the listing agent this simple, open-ended question can reveal so much about the seller's priorities. And usually, you will learn there are factors very important to the seller that have nothing to do with price. For example, the seller may prefer a specific

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As we near the season of Thanksgiving we'd like to express our gratitude for a few people who are amazing at what they do. If you've been a client of our team, you no doubt have worked with a few of these folks as part of your purchase or you sale. All of these people have played a huge role in our clients enjoying a successful year of buying and selling in 2019. 

with gratitude from mad city dream homes

Our marketing team

Thank you to our marketing team - Joe Molloy, Samantha Haas, and Tracy Kapela - who continually experiment with new and creative projects that benefit our clients and our team. You are a huge reason why our clients love their listings and why we love our jobs. Thank you also to Laura Kocum and Sara Ifert for the excellent writing projects you contribute to our team.

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Here's our latest summary of the Dane County real estate market. For more information on the market in your particular neighborhood or condo association, please reach out to your favorite Mad City Dream Homes agent. 

Accepted offers 

Mortgage rates dropped in August and Madison area home buyers responded. September of 2019 was the third most active month of September on record. A total of 438 Dane County single family home listings received accepted offers, which was up 9% year-over-year.  

Madison Area Single Family Accepted Offers Sept 2019

Condo accepted offers decreased, but still came in at the 6th highest level on record for the month of September. Inventory is especially tight in the Madison area condo market, and is limiting buyer activity in 2019. We cover condo supply a little later

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Does your home offer a truly special setting? Then use an aerial photo from a drone camera to sell your property's unique location. Below are some nice examples of aerial photography produced by VRX Media. These photos feature a few of our recent listings. 

Right now we have only a short window of time until the leaves are off the trees and the snow starts flying. It's the perfect time to capture some colorful aerial photos in preparation for your upcoming real estate listing. 

Lake Monona setting

This photo shows our recent Morrison Street listing near Lake Monona, Willy Street, and Downtown Madison. 

Lake Monona Aerial Photo

Lots by Cherokee Golf Course

This aerial photo shows 4 buildable lots surrounded by the Yahara River, Cherokee Marsh, and Cherokee

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We've summarized our latest snapshot of the Madison area single family home and condo markets below. For more thoughts on the opportunities available to buyers and sellers this fall, check out this recent blog post. 

August home and condo prices

Dane County home prices are at an all-time high and have risen 2 percent through the month of August. 

Dane County WI Home Prices Aug 2019

Dane County condo prices are also at an all-time high and are 3 percent higher through the month of August. 

 

August accepted offers

Dane County home buyers were active in the month of August. Accepted offers rose by 3% for the month and were lower by 4% year-to-date. 

 

Accepted offers in the condo market were lower by 11% in August and by 9% year-to-date. A lack of affordable

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