The seller's market seems to come to Madison a little earlier each year, and in 2018 we expect the Madison area real estate market to be hot by February 1stat the latest. The primary reason for this is low inventory. Buyers are adjusting to the low inventory market by starting their property searches in the wintertime instead of the spring - in order to get a jump on their competition. We're expecting buyers to be very active, very early in 2018 due to low supply in the Madison area.
As of this article, Madison single family home listings are down by more than 12% from the same time last year, and condo listings are lower by more than 38%. Meanwhile, Dane County's population and economy keep growing. With low supply and high demand, we're predicting Madison home prices to rise by at least 5% in 2018 and condo prices to rise by at least 8%.
How can sellers take advantage of the 2018 market?
By being proactive and focusing on the basics. If you're planning to sell in 2018, here are a few things you can do right now to ensure a successful listing in the new year.
#1: Talk to us about your home's value.
Prices have increased a lot in the last few years. Your home could be worth much more than you think.
#2: Ask us about the simple cosmetic improvements that will increase your home's value further.
We can refer you to reputable contractors who do great work and for a fair price. Now is the time to work on your home improvement projects. Our contractors are easier to schedule right now than they will be during the busy spring and summer months.
#3: Get started on your staging.
We work with three excellent stagers and can connect you with the one who's the best fit for your needs. Remember, we give you as much time as you need with our stagers, and we pay for your consultation.
#4: Schedule your photo shoot as soon as your staging is complete.
We also work with three excellent real estate photographers and can connect you with the one who is the best fit for your property. We pay for all of your professional photos, and we'll schedule as many photo shoots as needed to get your listing pictures just right.
By taking action on these 4 steps right now, you'll be ready to take advantage of the seller's market in early 2018.
For more home-selling tips
Visit our blog for Madison area home sellers here: