Real Estate Listings Madison WI
As mentioned in last week’s market update blog, real estate demands for single family homes are still high, and inventory is low. Well let us rephrase that, inventory in the needed price range is low. This is proving true in the Madison WI area. Currently on the market there are only a handful of homes for sale in the price range that most buyers need. Price per square foot is up 10% and it’s difficult to come by a single family home that’s on the market for less than $350,000.
This skewed market of too little inventory in the needed price range is causing buying to slow down. Accepted offers are 3% less than they were a year ago, not a huge jump, but a decrease for sure.
As for the condo market in the Madison area, sales have been slightly increasing, but still remain lower than last year. This is partially due to low supply of condos in the Madison area. Both the price per square foot and overall average price are at an all-time high right now. This is due to the competitive, selective condominium market available right now.
In the renting world, vacancy rates are trending at an all-time low. This is proving to make the renting market competitive and causing rent rates to rise. More and more people are choosing to rent due to the fact that they cannot find a single family home on the market in their price range.
Real estate listing in Madison WI are diverse in both size, price and location right now.
Whether you are looking to rent, buy or sell in the Madison area, you are sure to run into a competitive and ever increasing market.
If you are looking for more information on the Fall 2017 Market, check out: https://www.everyday-propertysolutions.com/blog-1/the-fall-2017-housing-market
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