Madison WI Real Estate Blog

This Month in Real Estate: January 2016

Dane county is hitting record numbers with the 347 reported sales of single family homes and condominiums. The South Central Wisconsin MLS reports this is the highest total ever for the month of January, breaking the previous record of 345 set in 2006. Compared to a median sales price of $217,500 last year we are up 4.9% at $232,550.

New listings in January rose to 7.4% in Dane County, however the total number of active listings decreased 22% due to increased sales activity. Right now there is only 2.16 months of available inventory on the market when generally 6 months is considered a balanced market.

For the SCWMLS region (excluding Dane County), January sales increased 10% over last year with the median sales price increasing 6.4% to $130,000 from $122,100. We see a positive 2016 with continued job growth and confident consumers. There is strong demand from Millennials and Gen Xers as new households are formed and life events take place in existing households. Affordability is high as favorable interest rates stay below 4% for now. We also see an increase in new construction with such low inventory.


First Impressions are a Big Deal

Did you know that 95% of staged homes sell on average in 11 days or less AND sell for 17% more? Making a great first impression can be the difference between your home selling or not. There are many things to consider when putting your house on the market, from repairs to curb appeal. Watch Josh go through the best steps towards staging your home in his CW Real Estate News video!

When taking the time to fix up and stage your home right, the returns can be huge. Take a look at the chart below to see how much you can get out of your investment.

Ready to take the next steps? Contact us today to receive our FREE staging checklist!


Have You Considered New Construction?

Inventory is only at 2.41 months in Dane county which makes it a great seller's market and median sale prices are at their peak. However, many buyers are struggling to find an existing house that meets their needs. The good news is that you have options! New construction can be a great way to get everything you want in a home and it is becoming a more popular choice in this low inventory market.

New construction can sound like a daunting task and may sound stressful. The Josh Lavik team has assisted many new construction buyers go through the process with ease. Check out Josh's new CW 57 Real Estate News video to learn all of the benefits of new construction!

Ready to take the next step? Contact us today for more new construction resources or for help getting started! 608-620-4234