January/February 2016 Home Sales

Well, Spring has arrived and with it a crazy Real Estate Market.  Houses on the near West Side of Madison are selling quickly, many with competing offers.  Inventory is still very tight and it's a seller's market.  That is clear from the number of homes that have sold in January and early February; fewer than in recent months.  Another indicator of the low inventory.

If you are thinking of selling, now is a great time to get your house on the market!

Below are sales in January and early February, 2016.

830 Hiawatha Dr Madison, WI

Sold: $332,900

3 Bed, 2 Bath	Built in 1941
Sold On 02/12/16	1951 sqft
Price/sqft: $171

312 N Segoe Rd Unit 202 Madison, WI

Sold: $116,000

2 Bed, 1 Bath	Built in 1964
Sold On 02/10/16	845 sqft
Price/sqft: $137

302 Robin Pkwy Madison, WI

Sold: $427,500

4 Bed, 3 Bath	Built in 1957
Sold On 02/08/16	2406 sqft
Price/sqft: $178

4313 Keating Ter Madison, WI

Sold: $290,000

3 Bed, 2 Bath	Built in 1951
Sold On 02/04/16	1276 sqft
Price/sqft: $227

2022 Kendall Ave Madison, WI

Sold: n/a

4 Bed, 3 Bath	Built in 1932
Sold On 02/02/16	1880 sqft
Price/sqft: n/a

2314 Van Hise Ave Madison, WI

Sold: $487,500

3 Bed, 3 Bath	Built in 1928
Sold On 02/02/16	2208 sqft
Price/sqft: $221

5713 Elder Pl Madison, WI

Sold: $262,000

3 Bed, 2 Bath	Built in 1957
Sold On 02/02/16	1378 sqft
Price/sqft: $190

5726 Bittersweet Pl Madison, WI

Sold: $159,000

2 Bed, 1 Bath	Built in 1935
Sold On 02/01/16	800 sqft
Price/sqft: $199

5513 Old Middleton Rd Madison, WI

Sold: $132,400

2 Bed, 1 Bath	Built in 1933
Sold On 01/26/16	860 sqft
Price/sqft: $154

Millennials Buying!

It would benefit all of us to prepare for a new wave of homeowners. Yes, the Millennials are coming and indicators suggest they're ready to buy. 

Older Millennials (ages 25-34) could potentially claim up to a third of for-sale housing in 2016, which nationally may mean up to 2 million home purchases by this demographic alone. To help these folks in the process, Restaino & Associates has an extensive video series. On our website, we offer one minute videos on a wide range of topics from banking terms to understanding mortgage rates and dozens of topics in between. Whether you are a "seasoned" buyer or seller or new to the process, these videos are designed to educate and create peace of mind as you navigate the busy real estate wave expected this spring.

2016 will be a fantastic year for buyers, sellers, mortgage professionals and anyone else invested in the Madison area real estate market. As always, I am here to assist you on any and every level.

WINTER WAS EASY, NOW THE "REAL" FUN BEGINS!

That wasn't so bad, was it? Winter 2015-16 barely made a blip on south-central Wisconsin's radar. So into March we go without having the typical task of shaking off the winter-time blues. We can collectively head into spring with a positive outlook because there doesn't seem much in the weather department for us to be pessimistic about. Same is true in the real estate industry. Conditions are good!

As an effective indicator, January 2016 saw an uncharacteristically robust year-to-year growth in housing. This was marked by national increases in median list price (up 8%) and the 100-day rate homes sold on the market (up 4%). This could be the most successful spring and summer the real estate market has experienced since 2006. We must keep a close eye on inventory, though. With an anticipated increase in buyers, the number of houses on the market needs to sway higher to offer potential new homeowners more satisfying choices.  Smart Buyers should be looking now.