What's going on with Madison area real estate? The story of the year so far is low inventory. Here's our latest snapshot of the Dane County single family home market -- covering the first 6 weeks of 2021. 

Percent of listings with accepted offers

Right now 54% of all Dane County single family home listings are under contract with an accepted offer, which is a very high number for this time of year. The market for homes priced under $500,000 is especially competitive. 

Months of supply

Right now there are only .6 months of single family home supply throughout all of Dane County. Inventory is especially low for homes priced under $500,000. 

New MLS listings

Dane County property owners have been slow to put their homes up for sale

If you're thinking of selling your home in 2021, now is the time to put your home on the market, even though we're in the middle the winter season. Here's why: so far this year new listings are entering the market at an extremely slow pace. And with so much demand in the marketplace, many sellers are receiving multiple offers and selling for tens of thousands of dollars over the list. 

For a little more context, here's a quick look at how new MLS listings are trending in early 2021. 

Dane County new single family home listings

New single family home listings reached a new low in January and fell by 32 percent from January of 2020. Last month was the only January on record to log fewer than 400 new listings. 

Dane County new condo

Are you looking for a home in an established neighborhood, but can’t seem to find any options? We rounded up a selection of established neighborhoods that consistently have a good amount of inventory available. From communities with historic bungalows to houses in growing neighborhoods with a wide variety of inventory, these neighborhoods have options for many types of buyers. Check out the neighborhood profiles for each community to see all the latest listings.

Are you searching for your perfect home? Contact one of our experienced agents for a consultation. We would love to help guide you through the process of buying your dream home!

Birchwood Point - Located on the far west side of Madison, Birchwood Point is near shops and dining in Madison

It may seem hard to believe, but there are some real dangers for sellers to be aware of in this year’s real estate market. If you’re planning to sell your home this year, these 3 tips will help you avoid the pitfalls that some Madison area sellers are experiencing in 2021. 

Our 3 big tips for Madison area home sellers in 2021

#1: Don't get caught up in the hype. 

These days it’s so easy for sellers to read the news headlines and social media hype and be lulled into overconfidence. Perhaps you’ve come across a few of these sellers. These are the folks whose listings are sitting on the market, with no real prospect of selling, because they’ve underestimated all that is required for a successful sale.

#2: Remember to focus on the

We're excited to announce that Jake Johnson has joined our team as a full-time and full-service realtor! Jake brings with him 15 years of experience in customer service and people-focused industries, while serving 10 of those years in leadership roles. 

Jake is a former client of our team, so he knows all about our focus on community, relationships, and real estate. He has a strong work ethic, a knack for building positive relationships, and a sincere appreciation for mastering the fundamentals of our business -- as he applies them in ways that are authentic to his personality and his strengths. And Jake has certainly hit the ground running. He's already adding a ton of value to our clients. 

We're grateful to have someone of Jake's caliber join our

The Madison area condo market was very active in December, as condo closings and accepted offers increased big-time to close out the year. Here's our latest market update along with our commentary on what to expect in the year ahead. 

Madison area condo sales

Despite low inventory, Dane County condo sales grew to the second-highest total on record for the month of December. Sales increased 29% year-over-year and 14% during the calendar year.  

Accepted offers

Local condo buyers were very active last month and almost set a new record for the month of December. Accepted offers increased 28% from the prior December and 14% during all of 2020. We expect strong sales totals in January based on the number of contracts signed in December. 

After years of in-person and hands-on staging with Debbie Lea of Showcase Home Stagers, our team quickly adjusted to doing business virtually because of the pandemic in order to prioritize everyone’s safety. 

Because of Debbie’s incredible eye for design -- even through video chats and emailed photographs -- and close collaboration with our nimble agents and marketing staff, our sellers continue to reap the benefits of home staging services (free of charge as part of our complete marketing plan). 

In a previous post we shared what sellers can expect during a virtual staging consultation with Debbie. As a follow up to that blog, Debbie and agents Ann Raschein, Maureen Moran, and Shelley Lazzareschi reflect on the importance of making a great first

December was another strong month for the Dane County single family home market. Here's our quick overview of the latest single family home trends and a sneak peek at what lies ahead in 2021. 

Madison area home sales

Dane County home sales set a new record for December, increasing by 17% from December of 2019. Home sales set a new annual record in 2020 and grew by 7% from the year before. 

Accepted offers

Accepted offers decreased 4% year-over-year, but buyer activity was still strong compared to most other Decembers over the last 20 years. 

Expired Listings

Expired listings reached a new low for the month of December. Low inventories and strong buyer demand have created a market with very few expired listings. 

Days on

Now that we're on the other side of the holidays, we're seeing new listings enter the market at a much faster pace. And the pace will accelerate as we get closer and closer to Spring. As more and more new properties hit the market, we'll see more and more new buyers competing for these properties, too. 

Buying your dream home in 2021

This year's real estate market will be very competitive. So, if you're serious about buying your dream home this year, please reach out to your favorite Mad City Dream Homes realtor for a short consultation. We'll discuss your goals for buying your dream home, your financing plans, and how we can work together to make your dream home happen in 2021. 

Last year we helped more people achieve their home ownership

The new year is upon us, which means it's time for our 2021 real estate predictions. Below we've identified 7 key real estate trends for the coming year, many of which have been shaped by the tumultuous events of 2020. For a look back at last year's predictions, check out this article from our blog. 

Our 2021 Madison real estate predictions

#1: Mortgage rates will remain historically low for the whole year. 

The Federal Reserve has indicated it's committed to doing what it can to keep mortgage rates low for the foreseeable future. If this holds true, this means rates for a 30-year mortgage should be around 3 percent for all of 2021. 

#2: Home and condo sales will be at or above the levels from 2020. 

Low mortgage rates will fuel a