Keith and Kinsey's Real Estate Update


Is the Dane County Housing Market Heating Up?

The past week has been a very busy real estate week. We have had lots of showings, a closing, we put three properties under contract, and we are waiting to hear on another counter offer (all in a matter of 5 days). I’ve talked to other real estate agents that suddenly got just as busy. What does this all mean? Is the Dane County housing market making the turn for the better?

It will be interesting to see the housing market statistics over the next few months. Lately prices have been up just a hair over the same period last year. Sales where way down in the last quarter of 2010. January and February 2011 sales have been about even with January and February of 2010. With all the recent action though, I would predict that April through June will see an increase in sales.

Is it just spring fever, or are buyers finally realizing that it really is a great time to buy? Interest rates are down, prices are great, and in my opinion, we’ve creeped past the bottom without anyone really noticing.

One thing I’ve noticed about these homes that we recently put under contract. They are all the best home for the price in the neighborhood. There still seems to be a lot of homes on the market that have nothing to beat the competition. They are just sitting, waiting, and hoping that somebody makes an offer. There are buyers out there. The key to selling your property is making it slightly better and slightly cheaper than your neighbors. Who wouldn’t buy yours over your neighbors at that point? So, do some spring cleaning and touch up to gain an edge on your competition.

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[…] from the Wisconsin Realtors Association the lowest point of the past 4 years was November 2009. I posted near the end of March 2011 and said it felt like the market was improving. Looking at this chart […]

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