What's hot, and what's not, in the Madison area real estate market?

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Why is that some Dane County homes and condos sell quickly and some do not? Here's a quick look at a few themes that our team is observing in this summer's market. 

(listing photo courtesy of Step Inside Media) 

What's hot

Move-in-ready and impeccably maintained homes. Many buyers are willing to pay a premium for the turnkey home where all of the time-consuming and expensive projects have already been completed for them. Most often, they'd much rather pay for repairs and updates upfront with their mortgage, than they would with cash after their purchase. 

What's not

Deferred maintenance, pending assessments, and overly-aggressive pricing. With the cost of nearly everything on the rise (including housing), most buyers are wary of looming remodeling and repair projects. This includes pending condo association projects that will require additional payments from the new owner. 

How should sellers approach their sale in this cost-sensitive market? 

If selling your home is in your future, our number one piece of advice is to be proactive and start preparing for your sale well before you need to move. Schedule a planning session with our team that will help you prioritize the most important repairs and updates for your home. You'll experience a smoother and more profitable sale when you approach the process proactively. 

What should buyers know about this summer's market? 

If you're planning to buy a home this summer, you may have a lot more negotiating power than you think. Inventory is rising, and many sellers are eager to strike a deal. Working with a professional buyer agent will help you identify your best opportunities this summer.