Mad City Dream Homes Real Estate Blog, Madison WI

The new year is upon us, which means it's time for our 2021 real estate predictions. Below we've identified 7 key real estate trends for the coming year, many of which have been shaped by the tumultuous events of 2020. For a look back at last year's predictions, check out this article from our blog. 

2021 Dane County Real Estate Predictions

Our 2021 Madison real estate predictions

#1: Mortgage rates will remain historically low for the whole year. 

The Federal Reserve has indicated it's committed to doing what it can to keep mortgage rates low for the foreseeable future. If this holds true, this means rates for a 30-year mortgage should be around 3 percent for all of 2021. 

#2: Home and condo sales will be at or above the levels from 2020. 

Low mortgage rates will fuel a

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Ann Raschein Realtor Mad City Dream HomesAs we approach the end of 2020, we'd like to say thank you to Ann Raschein for her dedication to affordable housing initiatives here in Dane County. As an affordable housing advocate, Ann volunteers her time and energy as a member of the board for both the Home Buyers Round Table and Habitat for Humanity of Dane County. Ann has also helped 5 families receiving down payment assistance achieve the dream of homeownership in 2020.

Ann's commitment to affordable housing is just one of many ways that she serves her community. If you've worked with Ann on the purchase or sale of your home, you've come to know her as someone who truly goes the extra mile to help you achieve your real estate goals. As a leader on our team, we've come to know her as someone who

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Tammy,

It’s hard to believe you have been working with us for the last 7 years! The time has gone by so fast, and now you’re off to your next stage of life in Minnesota. We will all miss your positivity, energy, and enthusiasm that you brought to our team and to our clients. You have made our lives a little easier and a little brighter. Thank you for 7 great years! We wish you all the best in Minnesota!

Your friends at Mad City Dream Homes

Tammy Steiner's exuberant personality and strong work ethic are evident in the reviews she's received from clients through the years, too. Here are just a few examples. 

  • “Tammy was such a pleasure to work with. She was able to see our vision and embraced it, offering her own vision and ideas as we
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The Madison area condo market continues to be very active as we approach the new year. Here's our latest report on the Dane County condo market, covering the month of November, 2020. 

Dane County condo sales

Madison area condo sales jumped 14% in November and set a new record for the month. Even though we're in the midst of the holidays, many buyers are motivated to make a purchase before the end of the year. 

Madison WI Condo Sales November 2020

Accepted offers

Accepted offers increased 21% in November and established a new record for the month, too. We're expecting a high number of closings in December and January based on the large number of buyers writing offers in November.  

 

Madison area condo prices

Dane County condo prices reached a new high for the month

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November was another record-setting month for the Madison area single family home market. Here's our latest Dane County home report covering the month of November, 2020.

Dane County home sales

Madison area home sales set a new record for the month, increasing by 13% year-over-year and 6% year-to-date.  

 Madison WI Home Sales Nov 2020 

Accepted offers

Accepted offers also set a new record for the month, increasing by 9% year-over-year. A high number of accepted offers in November will lead to strong sales totals in December and January. 

Months of supply and percent of listings under contract

Right now there are only .8 months of single family home supply available for sale on the MLS, while over 49% of all listings are under contract (a very high percentage

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When we put out a call in our last newsletter and blog for recommendations of another local nonprofit to spotlight, we were pleased that the word traveled quickly in our networks and beyond. Several people connected us with the incredible work of JustDane, whose mission is to help transform individual lives and social systems to create a just and equitable community. 

The name “JustDane” was at first unfamiliar to me, and I soon learned why. The nearly 50-year-old faith-rooted nonprofit, originally named Madison-area Urban Ministry (MUM), recently emerged from a rebranding effort this summer. A phoenix with a north star has been selected as JustDane’s new logo to better reflect its inspiring and hopeful vision of a community where everyone can succeed,

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Winter is just around the corner, and although it may be more challenging this year due to the pandemic, there are ways to make it easier and more fun. Just because your usual winter activities may be less feasible this year doesn’t mean you can’t still enjoy the season. Here are 5 ways to prepare for a happier and healthier winter that keep you safe.

  1. Get outside for winter fun. Fresh air and sunlight go a long way to improving mood, so don’t forget about all of the fun outdoor winter activities that are available this time of year! Try ice skating, cross country skiing, or taking winter hikes. Dane County Park’s winter recreation guide is a great resource for finding fun ways to be active outside. You can also visit the City of Madison Parks

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The holiday season has arrived, so it’s time to reflect on last year’s real estate predictions before we share our predictions for the coming year. As you’ll see below, our crystal ball was accurate with a few of our 2020 real estate predictions and off the mark with a few others.

Mad City Dream Homes Real Estate Predictions

Where our crystal ball got it right

Last year we predicted historically low mortgage rates and housing inventory, which have proven to be true. We predicted confusing and contradictory messaging about the economy and the market, which has also been on the mark. Last, we summed up our predictions by saying more consumers would seek the advice of full-service, real estate professionals. Based on our experience, this has also been true. We’ve served more buyers and

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November and December are typically the two slowest months for real estate in the Madison area. Of course, this year has been anything but typical.

Although buyer activity does tend to slow during the holidays, we're still sensing strong interest from local buyers for this time of year. For example, check out the chart below, which compares the number of new monthly visitors to our website compared to the same month of the previous year. 

 Madison WI Real Estate Interest Nov 2020

So far, through the first 23 days of November, our website traffic is up 20% from last year. If we use the number of new visitors to our website as a proxy for buyer interest, then interest in Madison area real estate is quite high for this time of year. Despite all of the political chaos and uncertainty in

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At Mad City Dream Homes, we like to think of every listing as a luxury listing. We believe every property - no matter the price point - deserves beautiful photos. That's why we work so closely with you on your cosmetic updates, your staging, and your photography. We've learned from experience that all of our up front planning and preparation pays huge dividends when your home hits the market. 

For example, here are some beautiful photos from 10 of our recent listings, all of which were priced at $300,000 and under. Each property sold quickly and for a high market price, and most received multiple offers. Thank you Shelley Lazzareschi, Chris Venden, Maureen Moran, Alan Feder, Ann Raschein, Tracy Kapela, and Debbie Lea for your contributions to these

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