We're well into the spring season, which means we'll soon notice signs of a mellowing market as the Memorial Day Holiday nears. Here's our quick preview of what buyers and sellers can expect from the May Madison area real estate market.
(Pheasant Branch Conservancy in Middleton)
Expectations for buyers this May
Buyers will continue to see a large number of properties entering the market. But the pace of the market will begin to slow as we approach the summer season. Showings and competing offers will remain high, but begin to gradually moderate as the Memorial Day Holiday nears. Some properties will begin to sit on the market a little longer, making this an excellent time for buyers to stay actively engaged with their search.
Expectations for sellers
Sellers will experience a mellowing market as the Memorial Day Holiday nears, when buyer showings, competing offers, and bidding wars being to subside from peak levels. Many properties will go under contract in May, but buyers will begin to gain some leverage. May is an excellent time for sellers to take stock of their listing and ensure their pricing, staging, and marketing are on the mark.
Here are a few seasonal patterns from our historical data:
Many new listings will enter the market in May.
Buyer showings will remain strong, but begin to slow as we approach the Memorial Day Holiday.
Many properties will go under contract in May.
Competing offers will begin to moderate.
This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & Realty Executives Cooper Spransy
1619 Monroe Street #1, Madison, WI, 53711
