Madison Real Estate Market Update for Fall 2014

Madison Wisconsin Real Estate Video Blog with Jo Ferraro

There are many great Madison, WI area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 608-205-1321 for a FREE home buying or selling consultation to answer any of your real estate questions.

As the fall looms closer, we have been getting a lot of questions about the real estate market. With vacations coming to a close and the kids heading back to school, you would think that the market would stay pretty dormant. However, that has not been the case and currently, the market is extremely busy. We started off a little slow this year due to the long winter and are about 6-8 weeks behind our normal numbers, but sales have not suffered. Sales in Wisconsin have increased 15.6% since this time last year, which is very encouraging going forward because of our slow start this year.

The entire landscape of the market is just beginning to shape up and get stable. The median sales price has stayed near the same and interest rates remain at all time lows. Our expiration rate, which is the percentage of homes that were put on the market but did not sell, is right around 26%. With this in mind, it's important to get your home priced properly so that you can sell it quickly and not just wait for it to sit there on the market. We just took over a listing that had expired on the market and by putting a few of our spins on it, we were able to receive 2 offers in 2 days without even having to reduce the price.

If you have any questions about the real estate market in South Central Wisconsin or any other questions at all, please give us a call or send us an email. We'd love to hear from you!