A few days ago one of our buyer clients was elated to learn that her offer for a west side condo was accepted. This may seem hard to believe, but there were 8 other buyers who wrote an offer on the same property. You may be wondering, how is it possible that we're seeing so many competing offers at a time like this? It doesn't make sense that this would be happening during a pandemic.
The answer is, it's all about scarcity. Here's a quick look at how scarcity is shaping our market this Spring.
Scarcity in the Dane County condo market
There are fewer buyers participating in the market right now - and fewer sellers, too. Here are the trends we're observing in the Madison area condo market.