Dane County single family home listings continued to enter the market at a slow pace in the month of September.
And the trend was the same for condos.
Meanwhile, home and condo prices were up significantly. We'll have much more into to share on prices...coming real soon.
Even if you don't plan to sell until next year, this fall offers an excellent window of opportunity to capture exterior and aerial photos. Plan ahead by gathering some beautiful shots this fall, and next year you'll be glad you did.
Buying a home can be an emotional roller coaster. The excitement. The stress. It brings about lots of feelings. You start by looking at listings online then you schedule showings. You finally find that one… the home that spoke to you and your partner. Everything felt right. You wrote a strong offer and beat out several other buyers. Your agent negotiated great terms on your behalf. And finally, you close and settle into your new home.
The home felt like a blank canvas when you first saw it. Fresh neutral paint colors, no personal effects, lots of open space, etc… As you took possession of your new home and move your belongings into it, you begin to make it your own. Over time the process continues. You make some updates, some big, some small. Perhaps
…The Dane County real estate market continues to be one where buyers outnumber sellers. How do we know this? Here are 3 key indicators of pent-up demand in the Madison area.
It's true, we aren't seeing listings receiving 20 and 30 competing offers this year. But a high percentage of Madison area listings do continue to receive multiple offers. The percentage remains very high when compared to pre-pandemic levels.
The percentage of listings receiving cash offers is also trending along historically high levels, which is another clear sign of pent-up demand.
And of course, marketing times, remain historically low. Many Madison area home and condo listings continue to sell in
…
Congratulations to our client, Jenn, who recently sold her beloved home on the east side of Madison. This was a bittersweet experience for Jenn. She loved her home, her neighbors, and the surrounding neighborhood. But she's happy for the new owners, who are elated to be laying down roots in this sweet little bungalow.
Prior to selling her home, we helped Jenn coordinate all of her painting, lighting, and home repair projects. Then it was time for the professional photos, virtual staging, marketing, showings, and negotiation.
In the end, all of the planning and preparation was worth it. Jenn received two competing offers, and a wonderful accepted offer for $20,000 above the list.
Thank you, Jenn, for the opportunity to serve. It's been a true
…If you're looking for someone to bring the natural beauty and character back to your hardwood floors, we highly recommend giving Jeff Shunk from Imperial Wood Floors a call. Jeff is the owner/operator who follows through on his commitments and is onsite when the work is done.
He and his team recently brought this oak flooring back to life for one of our clients, and Jeff's work was a key reason why our clients sold their home quickly and for the full list price. You can call Jeff at 608-274-2821 for your own free estimate. We enthusiastically endorse Jeff for his service, communication, and dedication to his craft. Thank you Jeff!
Dane County home prices continued to move higher in the month of August, and by all measures. Here's our latest single family home update for the Greater Madison area.
The price per square foot increased from $210 in August of 2022 to $220 in August of 2023, an increase of 5 percent. The median price increased by 1 percent, while the average price increased by 4 percent.
Through the first 8 months of the year, prices were also up by every measure:
New listings continued to enter the market at a slow pace. For only the second August this century, fewer than 500 homes were listed
…Are you someone who enjoys helping others? Or perhaps you work in a helping profession like teaching, nursing or social work and you're seeking new challenges and new opportunities with your career.
If you're a helper at heart then a career in real estate could end up being a great fit for you. That's because people who are wired to serve tend to thrive in the world of real estate (at least, this has been our experience). Contact us if you're curious and ready for a conversation. We'd love to hear from you.
Cash offers became much more prevalent during the pandemic, and that trend has continued in 2023. Note from the chart below that the percentage of home sales without financing contingencies is trending much higher this year than in pre-pandemic 2019.
A high percentage of cash offers is a clear sign of a competitive market. It's also an indicator of pent-up demand, where the number of buyers exceeds the number of homes for sale in Dane County. Stay tuned for more insight into this topic. We'll have much more to share real soon.
Here's our latest look at the Madison area condo market, without any hyperbole or spin.
The price per square foot increased from $214 in August of 2022 to $217 in August of 2023.
Here's how condo prices are trending through the first 8 months of the year:
We fully expect Madison area condo prices to keep rising based on all of the supply and demand trends that we're observing in the market right now.
Also note: Because the number of condos sold each month is relatively small, the monthly prices can experience dramatic swings. That's why it's important to focus on the overall trend and not
…