The Fourth of July holiday is upon us, which means we're transitioning into a more mellow summer market. Here's our quick preview of what buyers and sellers can expect from the Madison area real estate market this July.
(Marshall Boats in Middleton)
Expectations for buyers this July
New listings will enter the market at a more moderate pace, but buyers will benefit from a noticeable decrease in competition. More properties will undergo price reductions and sit on the market longer -- making this an excellent time for buyers to find the right home before the start of the new school year.
Expectations for sellers
Sellers should be mindful that the peak spring market has passed, which means buyer showings, accepted offers, and competing offers will moderate throughout the summer. Plenty of homes will sell in July. Even so, sellers should work with their realtor to ensure their pricing, staging, and marketing are appropriate for a more relaxed summer market.
Here are a few seasonal patterns from our historical data:
Listing activity will trend lower in July.
Buyer showings will moderate over the course of the summer.
Accepted offers will drop well below peak levels.