A few days ago a prospective out-of-town buyer contacted our team about buying a home in the Madison area. He had been researching properties online and created a list of 20 homes he wanted to visit in person. We quickly checked on the status of each property and determined 18 of the listings already had an accepted offer. In other words, 90% of the properties on this buyer's list were already under contract and scheduled to close with another party.
Mr Buyer was surprised to learn that so many of the properties on his list would be selling to other people. It was tough news for him to swallow, but a good example for others on how competitive the Madison real estate market has become.
Our advice for buyers in 2018
If you'd like to avoid the experience of Mr Buyer above, then don't rely on websites like Zillow, Trulia, and Realtor.com as your primary source for listings. Instead, get focused on your plan and hire a committed and savvy agent who has a thorough understanding of the market and the inventory that's truly available for sale. Work with your agent to implement a search that's creative, aggressive, and systematic. Above all else, don't delay if you expect to play in this year's real estate market. Act quickly and view each listing the day it becomes available for showings. If that means canceling your evening workout and your dinner plans, then so be it. Your competition will be making these same sacrifices.