The spring market is the best market for sellers in Madison. Specifically the months of March, April and May are the three months when buyer activity is strongest. Take a look below at our MLS data from calendar year 2017, which shows the number of accepted offers for every month of the year. Accepted offers peaked in the month of May, which is a typical pattern for our market.
How does this seasonal pattern impact the sale of your home?
If your house is listed for sale right now, you need to know your home is worth more in the month of May than it will be in the months of June or July. That's because the spring market is an overheated market that gives sellers the clear advantage. In June, the market will shift, and buyers and sellers will be on more of a level playing field. Competing offers and bidding wars will moderate in the months ahead.
If your house is listed for sale, and hasn't sold yet, what should you do?
We recommend reviewing your listing along these 3 levels.
#1: Evaluate the condition of your home
Review the feedback you've received from buyers and buyer agents, and look for patterns that emerge from their comments. It's possible you may need to implement a few simple home maintenance projects or cosmetic improvements.
#2: Evaluate your marketing
Specifically, take an honest look at the photos in your listing. If you don't have eye-popping photos, what can you and your agent do to improve them? Ask your agent if it's time to enlist the services of a professional stager and schedule another photo shoot.
#3: Review your pricing
Take a look at all of the recent sales and accepted offers in your neighborhood. How does your listing compare to the listings that are selling? Does your property stand out as offering a good value for the current market? If not, it's probably time to adjust your price.