Mad City Dream Homes Real Estate Blog, Madison WI

Our latest condo report shows why it's still a very strong sellers' market in many price points and locations throughout Dane County. Buyers and sellers who take the time to understand these trends and consult with a professional will be well-equipped to make good decisions in the year ahead. 

Dane County Condo Market Update

Madison area condo market trends for April and early May, 2020

Here are the latest Dane County condo market trends, with new information from the months of April and May.

Some condo owners are postponing their plans to sell. 

As you can see from the graph below, April condo listings decreased by 37% year-over-year. Fewer listings means fewer condos will be sold in the months ahead. At the same time we expect the condo market to remain very

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Michaella and Gabi worked with Maureen Moran as they were getting ready to buy their first home. Due to the pandemic, there were some additional challenges for them to navigate, but Maureen helped them purchase their condo, safely! Read on for the story of how Maureen’s persistence helped them buy their first home during this unique time.

Michaella and Gabi were relocating to Madison from Baltimore, MD, as Michaella is about to begin her residency at the UW. They had been talking about buying a house for some time, and this seemed like the perfect “life transition” time to do so.

Then the COVID-19 pandemic set in. At first, they heard conflicting advice. Some said the pandemic would be the best time to buy, while others cautioned that it was the

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We're two months into the COVID-19 pandemic now, and we have some important trends we'd like to share with anyone who's thinking of buying or selling in the Madison area. Buyers and sellers who understand these trends will be in a position to make smart decisions and make the most of this year's unique market. 

Madison WI Real Estate News May 2020

Dane County single family home trends for April and early May, 2020

Here are the latest trends in the single family home market, with fresh data from the months of April and May. 

Fewer owners are listing their home for sale. 

Single family home listings were in short supply before the pandemic began, and we expect this to be the trend for the foreseeable future. As you can see from the graph below, many home owners postponed their

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If you're like most prospective sellers, you don't know where to begin with the home-selling process during the COVID-19 market. It's a confusing time for sure, but you can eliminate a lot of confusion by consulting with a professional and asking the right questions early on in the planning process. When you address the right questions, your next steps will become clear, and your overall plan for selling your home will begin to take shape. 

2 Questions for Madison WI Home and Condo Sellers

We recommend answering these 2 key questions as you plan for your sale:

Question #1: Will you be moving out of your home before your showings begin?

Depending on your situation, you may have the opportunity to move into your next setting before any showings begin. Most sellers prefer this approach (if it

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Traditionally, GivingTuesday is held the Tuesday after Thanksgiving as a dedicated day of giving for nonprofits across the globe. And while that will still happen later in the year on December 1, 2020, #GivingTuesdayNow has been organized for May 5, 2020 as an emergency response to the unprecedented need caused by COVID-19. 

There are several local organizations that could use extra support in the Madison area, and we hope you consider donating when and how you can. Among them is Habitat for Humanity of Dane County, which is asking you to “make a difference from a distance” by giving $5 on 5/5. 

Typically in spring, Habitat for Humanity of Dane County is busy building and rehabilitating houses alongside volunteers and partner families. However,

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Buyer activity dropped in March due to the pandemic announcement and Wisconsin's Safer at Home order. However, in the last couple of weeks we've had more buyers reaching out to us and asking us for help. 

At the same time we've noticed some interesting trends with our website traffic, which we like to track because it provides some insight into how engaged buyers are with the market. As you can see from the graph below, traffic dropped dramatically in the middle of March...BUT, it has been slowly climbing these last few weeks and is now much higher than it was the year before. 

Demand for Madison WI Real Estate

Buyer interest is strong right now.

Even though there will be fewer homes bought and sold this year, there are still plenty of buyers out there who are waiting for the

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For most buyers, financing is the first thing to think about when buying a home. A changing economic climate due to COVID-19 has begun to affect financing for some loan programs. Plus, the financing process has moved entirely virtual. Dave Leeder and the team at Inlanta Mortgage are helping many of our clients navigate these changes. Below are some of their top suggestions for buyers based on the current circumstances.

A buyer holding the key to their new home

As always, you should start the mortgage pre-approval process early. Ideally, you should have your pre-approval before you begin your search. This will help you understand which loan programs may be available to you, and how much you may be able to borrow for your new home.

Then, be sure to keep your lender up to date with any

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We're more than a month into this pandemic and we're learning many of you are still moving forward with your plans to buy your dream home. You have important, personal reasons for buying at this time, and you're committed to buying in a manner that respects social distancing. As we continue to assist many of you during the pandemic, we thought it would be interesting to share why some of you are choosing to buy right now, at a time when others are putting their plans (or being forced to put their plans) on hold.

Why People Buy During a Pandemic

Why you're buying a home or condo during the pandemic

Here are some of the main reasons why many of you are choosing to buy right now, even though there's so much uncertainty in the world around us. 

1) You want your own safe haven

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At the time of writing this article, the sun is peeking through rain clouds on April 22, the 50th anniversary of Earth Day. It’s been about a month since Gov. Tony Evers issued a Safer at Home order amid the COVID-19 pandemic, so celebrating this conservation milestone without a public gathering feels strange yet necessary given the circumstances. 

However, we can still connect with nature on our own or with those who live in our homes while following the latest social distancing guidelines.

Public Health Madison & Dane County recommends:

  • Walking, hiking, or biking while being safe;
  • Maintaining a physical distance of at least 6 feet from anyone you may encounter while you’re out;
  • bringing along a cloth face covering;
  • And finding
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Virtual tours have quickly become an indispensable marketing tool for sellers in our new era of social distancing. As we adjust to a new market, we're learning many buyers are comfortable using virtual tours as a substitute for the traditional walk-through. They're using virtual tours to learn about the features, flow, and condition of a property. And in many cases buyers are writing an offer without ever setting foot in the home.

Virtual Property Showings by Mad City Dream Homes

4 types of virtual tours

There are several types of virtual tours, each with its own advantages. Here are 4 different technologies which we're making available to all of our home and condo selling clients right now. 

Full-motion video tours

Starting at the front door, a full-motion video tour takes buyers through

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