Tagged : madison real estate

Found 663 blog entries tagged as "madison real estate".

#1) To what extent do my clients, colleagues and friends see me as someone who is focused on them…or focused on myself?

#2) How can I consistently show up as a positive influence for the people I know?

#3) What are my unique skills and talents? And how can I best apply them within my profession? 

Your answers could help you take your first step in a new direction. 

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The first big insight: Many of the most productive real estate agents approach their profession as a craft. A craft that they work at each day. Not because they have to, but because they want to. Because their work is rewarding to them and worth the effort. 

The second big insight: Many of these same agents apply their craft as a service to others. And it’s this focus on serving that sustains them over the long run. Having a servant mindset enhances their relationships, their reputation, and the satisfaction that they derive from their career. 

What a wonderful way to approach a vocation. 

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We're always focused on being present with you: 

  • So when you have a question for us, we respond with a prompt and thorough answer. 

  • When you send us a text or an email, we read your entire message and follow up with you appropriately. 

  • And when you call us, we pick up the phone or we call you back real soon. 

And of course we're always up for a conversation. A conversation offers a real opportunity to connect. 

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Madison area condo prices rose from $187 per square foot in January of 2023 to to $212 in January of 2024. That's a 13 percent year-over-year increase. Note these numbers are based on a low number of sales in the month of January. We'll gain a clearer picture of price growth as we accumulate more data throughout the year. 

Dane County condo prices

Madison WI Condo Prices

New listings

January condominium listings entered the market at the slowest pace on record. Only 101 Dane County condos were listed for sale last month. We expect listing activity to remain low (and prices to remain high) for the foreseeable future. A lack of new condo construction in one key reason why the market will remain tight. 

Madison WI Condo Listings Jan 2024

Active listings

Available condominium listings (those

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Buying a home isn't necessarily easy in this market, but it doesn't need to be a frustrating and exhausting experience, either. Just the opposite, it can be a rewarding and life-changing event when you embrace the right mindsets. Here are 5 key mindsets that will help you achieve your homeownership goals in our low inventory market. 

#1) Choose optimism over pessimism, and trust in the process. You'll find the right home when you have a good plan and the right team supporting you. 

#2) Be active, not passive. "Zillowing" and perusing properties online can be interesting and fun, but it won't necessarily get the job done. A better approach? Partner with professionals who actively work your plan for you. 

#3) Think 12 months, not 3. Buying a home

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Madison area home prices continued to move higher in the month of January. Here's our latest update on the Dane County single family home market.  

Dane County home prices

Madison WI home prices Jan 2024

Home prices in the month of January:

  • The price per square foot increased from $211 to $225 (6 percent).
  • The average price increased from $471,524 to $494,110 (5 percent). 
  • The median price increased from $430,000 to $450,000 (5 percent).

 

New listings

New listings rose for the third straight month (a positive trend), but were still very low by historical standards. A total of of 387 single family homes were listed for sale in the month of January, which was the second lowest January total this century. 

Madison WI MLS Listings Jan 2024

Active listings

Active listings (those

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If one of your life goals is to become a homeowner, you might try embracing the mindset of "better over perfect". In other words, the home you buy this year may not be your perfect home, in your perfect location, and at your perfect price. But it can be the home that helps you create a better life -- and build a stronger financial foundation.  

Simply by paying your mortgage each month, and by making the right improvements, you can start building equity right now that will help you move up to your next home a few years down the line. You can experience your dream of homeownership, and you can start building wealth for your future, when you embrace better over perfect. 

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For the first time in a long time, the number of new single family home listings in Dane County has increased for 3 consecutive months. Yes, these are all very modest increases, but it's a trend in the right direction. 

Madison WI new listings Jan 2024

It's important to note that we aren't seeing the same trend with condominium listings. Condo listings remain stuck at historically low levels for a variety of reasons, most notably a lack of new construction. We'll have much more market info to share in our January home and condo updates, coming real soon...

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Let's have a quick look at the numbers: Last year, Dane County's population grew by almost 8,000 people, and yet we built just under 1,300 homes. This is a very familiar pattern in Dane County. As the chart below shows, new home construction has been subdued for the last 18 years, even though our county has consistently ranked as one of the fastest-growing regions in the state. 

madison area housing starts 2000 to 2023

What does the future hold for Dane County?

While many counties in Wisconsin are experiencing population declines, it's important to note that Dane County's population is projected to grow by another 200,000 people over the next 30 years. For this and a host of other reasons, we fully expect local home values will continue to appreciate for the foreseeable future. 

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Rates for a 30 year mortgage were approaching 8 percent just a few months ago, but now they're much closer to 6.5%. What new possibilities do lower rates create for you? Now is a great time to explore your opportunities with a trusted local lender. Contact your Mad City Dream Homes realtor for a referral to a lender who will help you understand your options and make good financial decisions. We'd love to help. 

New mortgage rates for the new year

 Chart and data are provided courtesy of the Freddie Mac Primary Mortgage Market Survey. 

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