Tagged : madison real estate

Found 685 blog entries tagged as "madison real estate".

If you've been struggling during the first half of the year to find and buy the right home, we encourage you to stay positive and remain committed to your search. We've made it through the chaos of the spring home-buying season, and now the market is offering you a little more inventory, a little less competition, and a little more room to negotiate.  

Hang in there. While other buyers are getting ready for their summer vacations, your perfect opportunity could be waiting for you right around the corner...

Advice for Dane County Home Buyers

** Photo by Step Inside Media **

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At Mad City Dream Homes, we have a clear set of philosophies when it comes to buyer representation and serving our buyer clients. Here's how the Mad City Dream Homes approach compares to the approach of a more traditional buyer agent.  

buyer representation standards

(Thank you Step Inside Media for this photo and for all of the photos that you produce for our clients.) 

Buyer agency contracts

  • The traditional approach: The traditional approach requires you to commit to a long-term buyer agency agreement before the agent will assist you. 
  • Our philosophy: We believe you should be able to "test-drive" our services before you decide to work with us, so we won't ever require you to sign a long-term contract. 

Teamwork

  • The traditional approach: The traditional
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A new construction home offers one of your best opportunities for buying in our low inventory market. With a new construction home, you get all of the latest features and finishes. Plus, there's the added benefit of less competition. Whether you're seeking a turnkey home or a custom-built home on the lot of your choice, Dane County has a few dozen neighborhoods for you to choose from. 

Dane County New Construction Homes

(Thank you Step Inside Media for your beautiful photography!) 

 

Here's our list of 60 emerging neighborhoods in Dane County: 

The properties linked below include new construction homes and buildable lots. You can also visit this page that's always up-to-date with the latest new construction listings. 

Browse New Construction Here

 

Belleville 

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    We're seeing some encouraging signs that condo selection is improving in the Madison area, thanks in part to the addition of several new developments across Dane County. A few of these newer developments include: 

    • Besa Monona in Monona
    • Calliope Cottages in Middleton
    • Happy Place Condominiums on Madison's East Side
    • Lacy Ridge Condominiums in Fitchburg
    • The Ridge at Fox Hill in Deforest
    • Wild Oak Condominiums in Stoughton 

    If you're in the market for a new or newer condominium, please free to contact us for a helpful consultation. We'd love to help you. Or check out our guide to new construction condos below. 

    Browse New Condominiums Here
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    Madison area condo prices continued to move higher in the month of April. Here's our latest update on the Dane County condo market. 

    Dane County condo prices

    The price per square foot increased from $210 in April of 2023 to $229 in April of 2024. That's a 9 percent increase year-over-year. Through the first 4 months of the year, the price per square foot is up 12 percent. 

    Madison WI condo prices April 2024

    MLS condo listings

    New condo listings edged higher in the month of April, and are up by 15 percent through the first 4 months of the year. In the bigger picture, listing activity remains low compared to most other years this century. 

    Madison WI Condo Listings April 2024

    Accepted offers

    A few more condos went under contract in the month of April, but were low compared to most other years dating

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    Buyer activity was strong in the month of April, as Dane County home prices continued to move higher. Here's our latest update on the Madison area single family home market. 

    Dane County home prices 

    The price per square foot increased from $227 in April of 2023 to $234 in April of 2024. That's a 3 percent increase year-over-year. Note the price per square foot is up 8 percent through the first four months of 2024. 

    The median and average price were also higher in the month of April:

    • The median price jumped from $444,900 in April of 2023 to $496,000 in April of 2024 -- an increase of 11 percent. 
    • The average price moved from $509,239 in April of 2023 to $535,915 in April of 2024 -- an increase of 5 percent. 

    Madison WI Home Prices April 2024

    New MLS listings

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    Most of the popular real estate websites have home valuation tools that can be interesting and fun to interact with. In the matter of a few seconds, we can find our home online, and see how our home's value is changing from month-to-month.  

    But usually these online valuations are a gross approximation of the market, not a true reflection of it. 

    Take this Madison area property, for instance. According to one popular website, this home's market value increased by almost $140,000 in a single day. This happened because the home was listed for sale on May 1st at a price that was much higher than the website's estimated value. So when the home hit the market, the website automatically updated its value based on the list price of the home. 

    This is

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    We continue to be blown away by the work of Stephen Meyer and Phenomenal Carpet Care. Stephen is one of those rare people who approaches his work as a craft, someone who truly takes pride in his work. 

    Here's one example from a recent client. 

    Phenomenal Carpet Care Example

    If you're getting ready to sell your home, cleaning your carpets is a smart choice that always more than pays for itself. Visit phenomenalcarpetcare.com to get started. 

    And a quick reminder: Please reach out to us whenever you need help finding reputable contractors for your home improvement projects. We're always happy to help you make the right connection. 

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    We have no way of accurately predicting if and when mortgage rates might drop below 6%, but let's assume at some point they do.

    When this happens, we do expect more homeowners who are locked into a low mortgage rate to list their home for sale. It's reasonable to expect that supply will increase when mortgage rates fall. 

    At the same time, we also expect many more buyers -- enticed by lower rates -- to enter the market. Demand will rise when mortgage rates fall. 

    So very likely, the net effect of lower rates will be more upward pressure on home prices.

    The bottom line for you: If one of your life goals is to become a homeowner, it's important for you to know that there is a cost of waiting for a lower rate. So rather than wait for a lower rate

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    We've written extensively about why we expect Madison area home and condo prices to continue to rise for the foreseeable future. But there's one underlying trend that we haven't really delved into, and that's the large number of millennials who are aging into their peak home-buying years. 

    See the chart below from the economics blog, Calculated Risk, which shows the largest population groups by year using data and projections from the US Census. As the chart shows, a large number of millennials are aging into their 30's, and it's the 30 to 39 age range when most people enter into homeownership. 

    Madison is already home to a large and thriving millennial population, which is just one more reason why we expect strong demand and rising home values over

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