In the past two years, the Madison housing market has picked up right after the Super Bowl and continued to be strong right through Mid-October. This year is no exception!
For example, as of a few days ago there were 61 houses for sale on the near west side of Madison. Twenty-four of those had accepted offers. That's more than one-third of the listings, essentially off the market! Despite the frigid temps, the real estate market is HOT, HOT, HOT!
Here's what that means for buyers and sellers.
Buyers; be ready!
- Meet with your lender if you haven't already and be ready to view properties as soon as they come on the market. Even waiting a day or two could be too late.
- Put your best foot forward. If you decide to make an offer, make it as clean as possible so it's more difficult for the seller to counter or reject.
- Be prepared for multiple counter offers. Know how far you are willing to go for a particular property.
Sellers; be ready!
- If you have been thinking about selling, NOW is the time!
- Buyers are out like ants on candy and they are ready to buy.
- Be realistic, just because it's a sellers market, doesn't mean you can gouge the buyers.
- Price it right. The market will tell you if you are priced right. Try to get more than your house is worth, and it may backfire on you by languishing on the market.