It's only February 1st but it's already beginning to feel like a Spring market. So far this year 4 of our transactions have involved cash offers. One of our listing clients just received 4 cash offers - all of them for above the list price.
Single family homes are in short supply, and buyers are adjusting their tactics accordingly. Here's a quick overview of the competitive real estate market in Dane County.
Madison Single Family Homes
The real estate market in Madison is hot under $400,000. Overall there are only 1.1 months of inventory available for sale. Almost one-third of all single family home listings have an accepted offer (a high percentage for this time of year).
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Fitchburg Single Family Homes
The Fitchburg real estate market is especially hot under $350,000. As of this post there are only 6 single family home listings under $350k in Fitchburg which don't yet have an accepted offer.
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Middleton Single Family Homes
The Middleton real estate market is very hot under $400k. Over 50% of the listings in this price range are under contract and scheduled to close soon.
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Verona Single Family Homes
The Verona real estate market is very competitive under $350,000. Only 2.4 months of single family home inventory are available for sale in the entire city.
Prices are Rising All Over Dane County
Your home may be worth a lot more than you think in this year's market. Contact us anytime to discuss the latest trends in your neighborhood - and an accurate estimate of your home's value.
This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred
1619 Monroe Street #1, Madison, WI, 53711