Why Dane County Is a Seller’s Market
Madison, WI is a growing community and the inventory of available homes for sale has not kept pace with the demand. There are a number of reasons for this growing demand, including:
-
-
- Although many millennials rent, as they get older, they become more likely to buy a home and put down roots. This population is adding to the stock of homebuyers, while the inventory of available homes hasn’t increased.
- Lower mortgage rates have also helped fuel the market, because more people want to buy when interest rates are low.
- Rental rates have also been on the increase, and many people prefer to buy when renting costs more.
- Due to the recession of 2008, there has also been a slowdown in new home building in the Madison area. It is beginning to recover, but it’s not catching up at the rate needed to meet demand.
- For a number of years, foreclosures helped supply the market, but there are fewer of these houses available today.
According to the Wisconsin State Journal, median home prices are on the increase, not only in Dane County, but in 11 other counties in the south-central Wisconsin region. Essentially, high demand is pushing prices for new homes up. When presented well and priced to sell, many properties attract multiple buyers.
Contact Leslie an agent you can trust
If you’re ready to sell a home in Madison, WI, call Leslie for a consultation about your property. She will find a solution that fits your needs and goals. Take advantage of the economy and make the most of your home investment while the market looks good for sellers.
