In our low inventory market, many Madison area sellers are receiving competing offers this Spring and selling for some very high prices. This certainly has been true for our clients. Since the pandemic was announced, 8 of our sellers have accepted an offer for their home. Seven of eight have received multiple offers, and 6 of 8 have accepted an offer for the full list price or above. Even though we're in the midst of a pandemic, many of our clients are enjoying a successful sale as we use virtual tours and other best practices that incorporate social distancing. 

So listings are down, but where are the buyers this Spring? 

Buyer activity dropped in March due to the pandemic announcement and Wisconsin's Safer at Home order. However, in the last couple of weeks we've had more buyers reaching out to us and asking us for our help. 

At the same time we've noticed some interesting trends with our website traffic. We like to track our web activity because it provides some insight into how engaged buyers are with the market. As you can see from the graph below, traffic dropped dramatically in the middle of March...BUT, it has been slowly climbing these last few weeks and is now much higher than it was the year before. 

Buyer interest is strong right now.

Even though there will be fewer homes bought and sold this year, there are still plenty of buyers out there who are waiting for the right property to pop up or the right time to buy a home. If you're on the fence about selling this year, this should give you confidence to list your home and expect a successful sale. 

As we mentioned in this article, Dane County's population is growing, and many local residents are still looking for the right place to call home. There's a lot of pent-up demand for real estate right now, and all of this demand will benefit sellers this year and down the road. 

Contact us for a complimentary consultation. The market can vary by price point and location. We'll help you make informed decisions.