Madison home prices started the year off strong in 2017. The price per square foot reached a record high of $139, up 8% from $129 in January of 2016.
Measuring prices in another way (the average price), home prices increased by 10%. The average price of $271,485 was a record high for the month of January.
Get Used to Rising Prices in 2017
We expect prices to rise by at least 5 to 6 percent this year due to persistently low levels of inventory. If you're buying, you'll need to adjust your tactics in order to compete in this year's seller's market. Check out our blog for our 2017 home-buying tips.
If you're selling, your home may be worth a lot more than you think, especially during this year's Spring selling season. Contact us for a complimentary market analysis for your home or condo.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred