Late last year we released our predictions for the 2019 Madison real estate market. Here's our short review of how well those predictions have held up through the first half of the year. 

#1: Mortgage rates will rise above 5%

We, and just about everyone else, whiffed on this one. Rates for 30-year fixed rate loans have dropped to well below 4 percent. This graph from Freddie Mac shows how mortgage rates have trended over the last year. 

#2: Home and condo prices will rise 2 to 3 percent

Madison home prices have increased by 4% through the first 6 months of the year. 

Madison condo prices have increased by 2 percent. 

#3: Foreclosures will rise

Madison area foreclosures have actually decreased through the month of

Few neighborhoods in the Madison area offer the variety of homes that appear in the Nakoma Historic District, where one of our newest listings is located.

Among the hilly, curvilinear streets just west of the UW-Arboretum you’ll find numerous Tudor Revival and Colonial Revival styles as well as a smattering of Mediterranean Revival, Norman Revival, Dutch Colonial, French Provincial, Arts and Crafts, Prairie School, Craftsman Bungalow, Modern, and International styles.

Some of the best local architectural firms of the 20th century, including Henry Dysland and Law, Law, and Potter, designed these homes, which were built between 1915-1946. This time period was one of immense growth and greater mobility in Madison from streetcars to automobiles,

When deals need to be made, it all comes down to trusted relationships. You can buy and sell homes in Madison, but to do it well, you will need a Realtor who values relationships and brings solid negotiating skills to the table. This adds some strength to your real estate plan, and it helps remove some of the emotion that could otherwise cloud the negotiations. The Mad City Dream Homes Team can help you look at the big picture, and they have enough history in the business to creatively problem-solve, and get you the best deal.

"Our team places a high-value on quality communication, " says Maureen Moran. "We can gather so much more information about the sale for our clients, simply by picking up the phone and talking with the other agent." 

Mortgage rates were projected to rise in 2019, but they continue to defy all of the projections put forward by industry experts at the end of last year. In fact, as of this writing, rates are at their lowest levels in a long time. Thirty-year fixed rate loans are currently running around 3.75%, and 15-year fixed rate loans are trending around 3.25%. 

This chart from Freddie Mac shows how mortgage rates have fluctuated over the last year. As the graph shows, rates have improved by more than a full percentage point since last November. 

How do lower mortgage rates impact you? 

For starters, if you've purchased a home or condo in the last couple of years, now is a good time to check with your lender and see if it makes sense to refinance. Ask

We've learned over the years that some folks can get a little confused about assessments, inspections, and appraisals - and the role each plays as part of the buying and selling process. If you're a little unclear yourself, this short overview will answer a lot of your questions.  

Assessments

An assessment refers to the "value" that the local taxing authority assigns to your property. Your local assessor assigns an assessed value to your property each year, that along with the mill rate, determines the amount of property tax you owe.

As a general rule of thumb you shouldn't use your property's assessed value to approximate how much it can sell for on the open market. That's because in most cases your local assessor has never been to your

You are ready to sell, and you want to get the best price possible. This means showing your home at its best. We suggest a few simple updates that can be done both quickly and affordably. Take a look at our list of 5 simple ways to increase your home's market value without breaking the bank. All five of these recommendations are low cost items that provide a high return on investment. 

Step 1: Hire a Professional Home Stager

In real estate, first impressions mean everything. A professional will help you stage your home so buyers fall in love with it when they first view it online. Depending on your needs, your stager will also recommend new paint colors, new flooring, and new light fixtures which dramatically improve your home's mass appeal. If

Wondering what's going on with the Madison area real estate market? Check out our brief snapshot below, which shows the latest trends for both homes and condos. 

Accepted offers

Buyer activity was below expectations during the first quarter of the year, but picked up significantly in April and May. Dane County single family home accepted offers increased by 1% in May, and were lower by 8% year-to-date. 

Condo accepted offers were lower by 5% in the month of May and by 10% year-to-date. 

Closings

Single family home sales (closings) increased by 8% in May and were lower by 3% year-to-date. 

Condo sales were up 4% for the month and down 5% year-to-date. 

Expired listings

Expired listings are increasing in 2019, as we

At Mad City Dream Homes we're producing some amazing results for our home-selling clients in 2019. Here are more recent success stories which demonstrate how we routinely go above and beyond to help our clients achieve their goals. 

More Home Seller Success Stories in 2019

Chris Venden: Chris recently listed a luxury condo for sale in Madison. For this listing, Chris carried out an ultra-aggressive marketing plan which demonstrated the creativity our team brings to the table. Chris's marketing plan included extensive staging support from Debbie Lea (the best stager in the business), eye-popping professional photos, a 360 degree virtual tour, Google AdWords, a magazine quality book, and marketing that thoroughly documented this condo's many fine

Here's the latest scoop on the Dane County Condo market - hot off the presses. 

Inventory

As of May 20th, there are only 1.4 months of condo supply across all price categories, with 47% of all Dane County condo listings under contract. The under $250,000 market is extremely hot. 

New listings

New MLS listings continued to enter the market at a slow pace in April. Listings decreased by 11% from April of 2018 and 14% year-to-date. 

Accepted offers

Accepted offers were down 2% from April of 2018 and 12% year-to-date. 

Sold listings

Dane County condo sales decreased by 14% in April and 8% year-to-date. 

Condo price per square foot

The price per square foot increased by 9% in April and 1% year-to-date. 

The Dane County real estate market got off to a sluggish start during the first 3 months of the year, as single family home accepted offers decreased by 15% from the year before. However, buyer activity picked up significantly in the month of April. Here's our update on the latest real estate trends in Dane County.

Accepted offers

Buyer activity in April was more in line with what we expect to see in a spring market. A total of 680 single family home listings received accepted offers in April, down just 4% from the year before. 

New listings

New single family home listings continued to enter the market at a slow pace, which is great news for sellers. New listings decreased by 9% in the month of April and 10% year-to-date. 

Months