What does the future hold for Madison area real estate? Here's a quick review of our predictions for the year ahead.
1) Mortgage rates will decrease slightly. The Mortgage Bankers Association is predicting rates for 30-year fixed rate mortgages to hover between 6.4% and 6.6%.
2) Demand for Madison area real estate will remain strong. We expect our strong local economy, our region's national reputation, and climate migration will continue to fuel Dane County's growing population in the year ahead.
3) New residential listings and sales will increase by 5 to 10 percent. New listings and sales have been quietly increasing in 2024. We expect this trend to continue into the new year as more people decide to enter the market.
4) Home and condo prices will increase 3 to 5 percent. Inventory has increased off of rock-bottom lows, which should lead to moderate price growth in the coming year.
Have you been dreaming of making your big move in 2025? You're likely to have questions. Please contact our team for a helpful conversation. It would be our pleasure to assist you.
This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & Realty Executives Cooper Spransy
1619 Monroe Street #1, Madison, WI, 53711
