It's only February 1st but it's already beginning to feel like a Spring market. So far this year 4 of our transactions have involved cash offers. One of our listing clients just received 4 cash offers - all of them for above the list price.
Single family homes are in short supply, and buyers are adjusting their tactics accordingly. Here's a quick overview of the competitive real estate market in Dane County.
Madison Single Family Homes
The real estate market in Madison is hot under $400,000. Overall there are only 1.1 months of inventory available for sale. Almost one-third of all single family home listings have an accepted offer (a high percentage for this time of year).
Fitchburg Single Family Homes
The Fitchburg real estate market is especially hot under $350,000. As of this post there are only 6 single family home listings under $350k in Fitchburg which don't yet have an accepted offer.
Middleton Single Family Homes
The Middleton real estate market is very hot under $400k. Over 50% of the listings in this price range are under contract and scheduled to close soon.
Verona Single Family Homes
The Verona real estate market is very competitive under $350,000. Only 2.4 months of single family home inventory are available for sale in the entire city.
Prices are Rising All Over Dane County
Your home may be worth a lot more than you think in this year's market. Contact us anytime to discuss the latest trends in your neighborhood - and an accurate estimate of your home's value.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred