The Dane County real estate market is always changing, but one dynamic we can continue to count on is low inventory. Here are a few reasons why the supply of Madison area homes and condos will remain low for the foreseeable future. 

Why Madison area housing supply will remain low next year

1) A low supply of new construction homes and condos

Although it may seem like there are a ton of new construction homes and condos being built in Dane County, much of the new construction growth in the area has been for commercial space and apartments. New home construction has been running well below historical highs for the last 14 years (see graph below). New condo construction has been very scarce and insufficient to meet the demand in the

Jennifer and Jordan Hegerfeld worked with Maureen Moran as they were getting ready to buy their first home. The couple found themselves with an accepted offer on their ideal condo, but there were hitches with securing the mortgage. Read on for the story of how Maureen’s persistence helped these first-time homeowners successfully purchase their new home.

Ready to become homeowners

Jennifer and Jordan began searching for their first home in March of 2019. They were ready to have a place of their own with more space, in a great school district for their child. At first, they considered single family homes, but most of the properties in their price range were fixer uppers and not in move-in condition. They found themselves looking for condos, which

Imagine you and your buyer agent have been looking for the right home for the past few months, and now you know you've found the right one. You're excited by the possibilities of owning your next home, but you realize you need guidance on how to structure and negotiate your offer to purchase. Here are five great questions to consider before you and your agent draft your offer. 

5 questions to ask before writing your offer 

1) What is important to the seller?

Having your buyer agent ask the listing agent this simple, open-ended question can reveal so much about the seller's priorities. And usually, you will learn there are factors very important to the seller that have nothing to do with price. For example, the seller may prefer a specific

As we near the season of Thanksgiving we'd like to express our gratitude for a few people who are amazing at what they do. If you've been a client of our team, you no doubt have worked with a few of these folks as part of your purchase or you sale. All of these people have played a huge role in our clients enjoying a successful year of buying and selling in 2019. 

Our marketing team

Thank you to our marketing team - Joe Molloy, Samantha Haas, and Tracy Kapela - who continually experiment with new and creative projects that benefit our clients and our team. You are a huge reason why our clients love their listings and why we love our jobs. Thank you also to Laura Kocum and Sara Ifert for the excellent writing projects you contribute to our team.

Here's our latest summary of the Dane County real estate market. For more information on the market in your particular neighborhood or condo association, please reach out to your favorite Mad City Dream Homes agent. 

Accepted offers 

Mortgage rates dropped in August and Madison area home buyers responded. September of 2019 was the third most active month of September on record. A total of 438 Dane County single family home listings received accepted offers, which was up 9% year-over-year.  

Condo accepted offers decreased, but still came in at the 6th highest level on record for the month of September. Inventory is especially tight in the Madison area condo market, and is limiting buyer activity in 2019. We cover condo supply a little later

We've summarized our latest snapshot of the Madison area single family home and condo markets below. For more thoughts on the opportunities available to buyers and sellers this fall, check out this recent blog post. 

August home and condo prices

Dane County home prices are at an all-time high and have risen 2 percent through the month of August. 

Dane County condo prices are also at an all-time high and are 3 percent higher through the month of August. 

August accepted offers

Dane County home buyers were active in the month of August. Accepted offers rose by 3% for the month and were lower by 4% year-to-date. 

Accepted offers in the condo market were lower by 11% in August and by 9% year-to-date. A lack of affordable

As we shared in a recent article there is still time to sell your Madison area home before the snow starts flying. And even if you don't plan to sell until 2020, this fall is the perfect time to start working on your sale. Here are a few things you and your listing agent can work on right now in preparation for your upcoming listing. 

Planning and preparing for your real estate listing

1) Learn your home's current market value

Mad City Dream Homes will complete a market analysis for you and help you understand your home's value on the open market. At the same time we'll share our recommendations for minor cosmetic updates which will help you sell your home quickly and for top dollar. Of course we'll re-visit your market analysis once your

Parks and trails bring communities together by promoting healthy lifestyles through recreational and educational opportunities, and Dane County has over 25 parks and 100 miles of trail for the public to enjoy.

The Dane County Parks department maintains these areas using county funds, but support for projects to enhance the parks, promote education, and provide resources to help volunteers comes from the Friends of Dane County Parks Endowment Fund, managed by the Madison Community Foundation. 

The Foundation for Dane County Parks promotes the county parks system and fundraises for the permanent endowment, which has now surpassed $500,000. The newly established nonprofit hopes to grow the endowment into a multi-million dollar fund, from which the

The fall season is a real estate market unto itself, with its own unique dynamics and opportunities. Below we share a few aspects of the autumn market that are good for buyers and sellers to know. 

Opportunities for buyers in the fall market

Right now is a great time to be shopping for a home, and here are two big reasons why:

There are fewer buyers to contend with in the fall

Take a look at this chart below, which shows Dane County buyer activity throughout the calendar year. Right now there are roughly 40% fewer offers being accepted compared to the peak months of March, April, May and June. The pace of the market is slower in the fall, and easier on buyers. 

There are fewer multiple offer situations and bidding wars in the fall

Cheese curds aren’t the only byproduct of cows that we have an excess of in the Madison area. There are also phosphorus-rich turds. And unfortunately when it’s raining, some of that fertilizer runs off farm fields and into our groundwater. 

“Over the last few decades, the phosphorus concentrations of the Yahara chain of lakes (Mendota, Monona, Waubesa, Kegonsa) have led to an increase in the frequency and extent of algae blooms, creating green, slimy lakes and beaches,” according to the Dane County Land and Water Resources Department.

But cows are hardly the only ones to blame for the Dairy State’s environmental woes. For that, we can take a look in the mirror and reflect on how we handle our own messes. 

Even though 94% of Wisconsin