Madison area home prices are rising by double-digits in 2021, which has some first-time home buyers sitting out this year's market with the hope that prices will be falling significantly soon. We don't believe this is likely to happen. 

Local trends favor more appreciation

Based on local supply and demand trends, we see prices rising. On the demand side, our population of home buyers keeps growing year-after-year, as Dane County consistently ranks as the fastest growing region in the state. Persistently low supply also points to higher prices: Dane County home building has been operating at subdued levels for the last 15 years, while new condo construction has been almost non-existent. 

Building a home has also become a much more expensive

This spring it's not uncommon for listings to receive as many as 10, 20 or sometimes even 30 offers. And when this happens the offers become extremely competitive. Of course buyers are competing with their offer price, but they're competing in some other key ways, too. Here are 4 key terms that many winning offers share when the bidding is especially fierce. 

The most competitive offers in 2021

Buyers are waiving their home inspection contingency. When the competition is especially fierce, some buyers are choosing to forego a home inspection. This isn't something that we advise our buyer clients to do. Nonetheless, offers without home inspection contingencies are relatively common when listings attract a dozen or more offers. 

Buyers are

Congrats to Jake Johnson and his buyer clients who just negotiated an accepted offer for $30,000 below the list price. These days we hear so many stories of properties selling for $30,000 over the list, but this transaction is a great reminder that every negotiation is unique -- even in this year's low inventory, seller-friendly market. 

In this case Jake demonstrated a solid grasp of local market conditions while using his communication skills to build rapport with the sellers and negotiate a favorable outcome for his clients. Needless to say, Jake's clients are ecstatic!

Jake, we appreciate how you represent your clients at such a high level as you capably guide each buyer to their dream home.

For those of you who are in need of a great buyer

Home building is proving to be a good option for some Madison area home buyers who are opting for a new construction home in one of the area's emerging neighborhoods. The appeal is two-fold. Buyers get to choose their own customizations and finishes. Plus it can be easier to purchase a brand new home due to less competition in the new construction market.

If you've been challenged by our low inventory market, evaluate your options and check out the properties available in some of the area's newest subdivisions. Who knows, you might find just what you're looking for in a new construction home.

Thinking of buying or building a new construction home? Here's our overview of over 50 emerging neighborhoods in the greater Madison area. Contact us to

When it comes to hiring the right realtor, it can be very beneficial to reflect on a few good questions before choosing your agent. By asking the right questions upfront, you can feel confident that you've chosen the right agent to guide you along your buying or selling journey. With this spirit in mind, here are 4 key questions buyers and sellers should be asking before partnering with a realtor in this year's complex market. 

Four key realtor interview questions in 2021

1) As a seller, how should I price and market my home in order to take full advantage of this year's market? 

2) As a buyer, how can you help me find my dream home when supply is so low? 

3) What strategies do you recommend for writing an offer to purchase in this year's

Having weathered a year of the COVID pandemic, it's not hard to see the many ways our lives have been affected. For some homebuyers, job changes or furloughs may have decreased the amount of home they can afford. Other potential buyers have shifted to more self-employment work and aren't sure how that affects their financing. Patrick Averill of Thompson Kane has been helping many of our clients secure financing during this unique time. He recently shared a few insights with us about the current lending climate.

Q: How has the lending market changed with COVID? Is it more difficult to secure a loan?

Patrick: Due to COVID, underwriting guidelines have become more strict than they used to be. More up-to-the minute income information is required

At some price points, cash offers and escalating prices have made it more difficult for financed buyers to be competitive - especially if they’re only able to put 3-5% down. But, there are ways buyers can stand out in this situation. One way to appear more competitive in a tight market is through your lender. Dave Grauwels of Guild Mortgage helps many of our clients. He recently chatted with us to share how he and his team help his customers go through the offer process with a competitive edge. Read his top three strategies below.

Dave's Tips for Being Competitive as a Financed Buyer

1. Get your pre-approval underwritten so your offer is nearly as appealing as cash. If a buyer starts the pre approval process early in their search, we can

Are you looking for a home in an established neighborhood, but can’t seem to find any options? We rounded up a selection of established neighborhoods that consistently have a good amount of inventory available. From communities with historic bungalows to houses in growing neighborhoods with a wide variety of inventory, these neighborhoods have options for many types of buyers. Check out the neighborhood profiles for each community to see all the latest listings.

Are you searching for your perfect home? Contact one of our experienced agents for a consultation. We would love to help guide you through the process of buying your dream home!

Birchwood Point - Located on the far west side of Madison, Birchwood Point is near shops and dining in Madison

A great perk of living the condo lifestyle is that you can swap outdoor chores like snow removal and yard work for getting outside for fun. There are many great conservancies and parks with endless opportunities to hike in the Madison area, and some condo communities are lucky enough to have them right outside their door. For some buyers, having easy access to beautiful outdoor spaces is a must-have item on their wish list. Below is a roundup of some of our favorite condo communities that happen to be a short walk to a conservancy or hiking spot.

Do you need help finding a condo that best suits your lifestyle? Contact one of our experienced agents.

Harbor Village - Explore the oak savanna and wetland prairies at Pheasant Branch Conservancy,

Now that we're on the other side of the holidays, we're seeing new listings enter the market at a much faster pace. And the pace will accelerate as we get closer and closer to Spring. As more and more new properties hit the market, we'll see more and more new buyers competing for these properties, too. 

Buying your dream home in 2021

This year's real estate market will be very competitive. So, if you're serious about buying your dream home this year, please reach out to your favorite Mad City Dream Homes realtor for a short consultation. We'll discuss your goals for buying your dream home, your financing plans, and how we can work together to make your dream home happen in 2021. 

Last year we helped more people achieve their home ownership