Mad City Dream Homes Real Estate Blog, Madison WI

According to Altos Research, inventory across the country is up 33% year-over-year. However, that's not the case locally. Right now, Dane County home and condo inventory is actually lower than it was at the same time a year ago.

Here's how single family home inventory is trending:

Madison WI single family home inventory Oct 5 2022

And here's the trend for condominiums:

Why is inventory lower?

Well, one big reason is that the number of homeowners choosing to sell has decreased noticeably over the last 3 months. Many homeowners, who would otherwise chose to move, are choosing to stay put with their 3 percent mortgage rate. And the buyers who are out in the market right now are proving more than enough to keep inventories low and prices high.

So, although you will see plenty of

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Right now both groups are a little timid -- which our data makes abundantly clear.

Buyers, for one, are scheduling fewer showings.

According to our data from ShowingTime, buyer traffic is well below the levels from each of the last three years.

Madison WI property showings Sept 2022

Madison area home sellers are less active, too. 

Through the first 9 months of the year, new Dane County single family home listings have been entering the market at the slowest pace since at least 1999 (which is our earliest year for MLS data). What's more, the slowdown in new listings has accelerated in the months of July, August, and September.

Madison area condo sellers are also less active.

Through the first 9 months of the year, new Dane County condo listings have been entering the

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Five years after the Americans with Disabilities Act (ADA) became law in 1990, a group of parents of children with disabilities founded Movin’ Out to “improve housing access and support, helping to build healthier, more resilient communities.” Over the years, the statewide nonprofit has provided critical housing resources and multi-family rental housing for people with intellectual, physical, or mental disabilities, people with low to moderate incomes, and veterans. 

“As a social justice organization founded around the time ADA was passed, it’s past time for us to acknowledge that our organization has a responsibility and role to play in advancing racial equity and racial justice,” said Movin’ Out Executive Director Kathryne Auerback. “People of color

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For many people, owning a home is about one or more of these aspirations: 

  • creating a future, and creating memories
  • laying down roots, and raising a family
  • breaking bread, and connecting with community
  • connecting with nature, and nurturing creativity
  • enhancing health, and having a sanctuary
  • building wealth, and creating prosperity
  • aging in place, and aging with dignity

Depending on your priorities and your stage of life, homeownership can mean many different things. So, what does homeownership mean to you? We would love to hear from you and help you explore the possibilities. Contact your Mad City Dream Homes realtor to get started. 

buying a home in Madison WI

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Where will you choose to live? What type of home will help you live your best life? Where are the opportunities and pitfalls in today’s market? We're here to help you plan for your future. Contact your Mad City Dream Homes realtor to get started. 

what does your future hold for you

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And we're always looking for the next generous person to join our team.

Here are a few kinds of generosity that we look for from every team member:

  • Generosity with how we support our clients and our colleagues. 
  • Generosity with our attitude and how we choose to communicate.
  • Generosity with our willingness to share ideas and solve interesting problems.
  • And generosity with how we nurture relationships and build trust.

If this is the type of career environment that resonates with you, then we would absolutely love to hear from you. Just reach out to Ann or Dan for coffee and a conversation. We'd love to learn more about what makes you tick and help you explore your career in real estate. 

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Madison WI Buyer Representation

When you're interviewing buyer agents, we recommend asking open-ended questions and then letting each agent talk.

For example, you might try asking open-ended questions like these:

  • What advice do you have for me as a home buyer?
  • What will you do to help me find and buy the right home?
  • Can you tell me a little bit about your customer service philosophy? 
  • What's going on in the market right now? 
  • And what is the market like for the type of home that I'm seeking to buy? 

When each realtor responds to your questions, are they trying to sell you, or help you? Do they launch into sales mode and ask you to sign a buyer agency agreement? Or do they ask you questions of their own in order to learn more about your needs and how they

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Then we invite you to try working by relationship instead. A relationship where generous and hardworking people come together in pursuit of a common goal. 

Here's what we keep learning about working by relationship, time and time again:

When like-minded people bring their best to each other -- and collaborate -- the results are often extraordinary. And in the end, every investment of time, attention, communication, creativity, problem-solving, and effort is worth it...and then some. 

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It wasn't too long ago that you could sell your home without much fuss at all. You didn't need to address deferred maintenance or repairs. You didn't have to worry about cosmetics or staging. And you didn't need to mess with marketing. For awhile, it seemed all you really needed to do was take a few iPhone photos, choose whatever price you wanted, and load your listing onto the MLS. And then, wait for the offers to roll in. 

Well those days are pretty much over.

Now, many sellers are learning that buyers have become much more selective than they were just a few months ago. And that preparation and attention to detail matter. The repairs and maintenance. The cosmetics and staging. The photos and marketing. The pricing and negotiation. All of it

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August was another month of high prices and low inventory for the Dane County condominium market. Here's our latest snapshot covering all of the key trends in the Madison area. 

Condo inventory

Available listings (those without an accepted offer) increased significantly this summer, but have since receded from the peak levels in July. Dane County currently has less than a month of inventory available for sale, which is one reason why we expect more price appreciation in the months ahead.

Madison WI Condo Inventory Sept 13 2022

New MLS listings

Through the first 8 months of 2022, new condominium listings are entering the market at the slowest pace in 20 years. New listings decreased by 17% year-over-year in July, and by 22% in August. Listing activity will be low this fall, too,

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