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.
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