Now that most of the transactions are in the books for the month of April, it's time for a quick look at Madison area home and condo prices. 

Dane County homes

• The median price in April increased to $450,000, up 7% from the year before. 
• The average price increased to $511,806, which was up 10%. 

Dane County condos

• The median price increased to $301,500, up 10% from last April. 
• The average price increased to $338,991, which was up 7%. 

Why do Dane County home and condo prices keep rising? Here are 9 reasons why prices continue to rise and why we expect prices to keep moving higher for the foreseeable future. Of course, we're always available to chat about the market and how the market impacts you and your goals. You know

Here are 5 great reflection questions for any real estate professional: 

1) Who are the real estate professionals who you've grown to admire and respect? And what are the traits that describe them? And what do your answers to these two questions reveal about you? 

2) What are the aspects of your current approach to real estate that "don't feel right" to you and are not a good fit for your unique personality?  

3) If you were to practice real estate in a manner that inspires you and motivates you (in a way that "feels right"), what would that look like? 

4) We can't possibly appeal to everyone, so given this, how would you describe your ideal client in terms of their values and their aspirations? 

5) How does knowing your ideal client inform

I've had the opportunity to work with, observe, and learn from many different realtors throughout my career, and so the timing feels right for me to acknowledge at least a few of them. By no means is this an exhaustive list. This is just a nice start on a long list of realtors whom I've grown to appreciate and respect.

Here's the list, for starters... 

Chris Venden, who is always kind and who always has good intentions for others. 

Shelley Lazzareschi, who seems to always have a positive attitude and a sincere willingness to help. 

Ann Raschein, who is constantly nurturing positive relationships by helping and serving others. 

Maureen Moran, who is a wonderful listener. 

Tony Tucci, who is exceedingly generous and always rooting for

Is there a senior in your life who needs help staying in their current home or assistance moving to a new one? If so, we have 4 excellent resources that we'd like to share with you. 

SAIL (608-230-4321)

Sharing Active Independent Lives (SAIL) is a local non-profit that is dedicated to helping seniors live independently in their own home. One of our friends who is now 102 years old has been a SAIL member for 18 years, and because of SAIL, she continues to thrive in the home she loves while staying connected to the larger community. 

Homestead Care Group (608-577-6993)

Homestead Care Group is another local resource that's dedicated to helping seniors stay in their own home. Homestead served one of our clients for ten years -- offering personal

Here's our latest unbiased view of the Dane County condominium market, updated for the month of March, 2023. 

Competing offers

The competition for condos in early 2023 is at an all-time high. Based on our preliminary data for the month of February, 49% of all contract signings involved multiple offers. This is a very high percentage for this time of year, and a clear sign that prices will be strong in the months ahead. There is still plenty of pent-up demand for condos in Dane County.  

New condo listings

Madison area condos continue to enter the market at a slow pace. March condo listings decreased 28% year-over-year and were lower by 24% year-to-date.

Condo inventory

Condo supply is running at an all-time low, with only .6

Is it time for a new look inside your home? Here are 3 local designers that we know, trust, and love!

Space at our 1619 Monroe Street office designed by Kristi Bertelson of the Inspired Design Team

Laura Groenier, Silver Leaf Interiors

• (608)-242-0707

Kristi Bertelson, Inspired Design Team

•  (608)-571-7230

Wendy Broadhead, Color Consultant

•  (608)-235-8623 

Do you need help with any other type of project around your home? Please reach out to our realtor team for a referral to a trusted contractor. It would be our pleasure to assist you! 

Spring is a great time to schedule your interior and exterior painting projects! We'd like to share a few local painters that we highly recommend! 

Hellenbrand Painting

• Phone: 608-220-8222

We're receiving excellent feedback from our clients about Dennis and his crew. They've completed many challenging projects for us with skill and care. 

Paul Peterson

• Phone: 608-358-3600

Paul and his team are friendly, reliable, and professional. They're receiving rave reviews from our clients, and we loved their work on our office remodel. 

Dale Tomalin

• Phone: 608-471-7768

Dale has a painting technology that is flexible enough to avoid cracking, hard enough to avoid chipping, and smooth enough for washing. Great for

Here's how Dane County single family home inventory is trending:

Available listings are up year-over-year, which is a result of fewer people buying in 2023. It's important to note that inventory is still very low from an historical perspective, and we're expecting supply to remain low and prices to remain strong for the foreseeable future. Right now there are only .8 months of inventory available in all of Dane County.

And here's the trend for condominiums:

There are actually fewer available condos for sale right now than there were a year. One of the big reasons for low condo supply is that very few new construction condos have been built over the last 15 years. Right now, we have only .6 months of condo supply available across the whole

Here's our latest update for the Madison area single family home market, covering the month of March, 2023. 

Competing offers

Our preliminary data for the month of February shows that 48% of the homes that went under contract in February received multiple offers. This is a very high percentage for this time of year -- just below last February's record of 50% -- and points to more rising prices in the months ahead. These high numbers show that we still have a large pent-up demand for real estate here in Dane County. 

New MLS listings

One of the reasons competition is so high, is because the number of new listings entering the market is so low. Right now, new MLS listings are entering the market at the slowest pace on record.

Dane

We're really looking forward to our new listing in Hill Farms! For the last 7 months we've been working on staging, capturing photos and video, and rounding out our marketing.

We're excited for our clients and for the rewards that they're about to reap, thanks to their focus on the fundamentals and their decision to plan ahead.

We'll have much more to share about this one real soon.