It’s no secret there is a shortage of homes for sale in the Madison-area market. According to a sample of Madison real estate market reports, active home listings were down somewhere between 10-15% in August compared to the same month last year.
However, this did not stop buyers. Home sales - in a seemingly impossible twist - actually increased! In fact, home sales set a record this past August, ending up 0.6% ahead of August 2016. The Wisconsin Realtors Association (WRA) says August 2017 is now the strongest August for home sales since they retooled their tracking methods in 2005.
Year-to-date home sales are also at their apex. Since January, 55,588 homes have sold throughout the state. It is definitely a great time to list your home. With only 1.8 months of inventory in the Madison market, active and future buyers are strongly advised to speak with their lender so they can act quickly when the time comes.
It’s not enough for a buyer to simply want to own a home in or around Madison. They need to strongly consider exactly where within the area they would most like to be. I have the tools to help guide you through the entire process. As a native Madisonian, I am knowledgeable on the neighborhood amenities, walking paths, schools and other considerations to guide you to an informed decision.
At the present time, the market doesn’t show signs of slowing down, and autumn would be a perfect time to list a home. Buyers shouldn’t despair about the low inventory. The rising home costs are indicative of Wisconsin’s strong economy.