Dane County Real Estate Market..Bright Days Ahead?
April 5, 2008
Another blog for Real Estate Professionals by Brett Boettge (Greater Madison, WI & Dane County)…
If I had a home to sell, I would list it TODAY! Is that the advice that most are giving? Probably not! It is my advice to Mr. and Mrs. Seller after scrutinizing pages and pages of market data for our market in the first quarter of 2008.
Here it is “Madison’s Bottom Line” Market Watch 1st Quarter 2008 v.s. 2007
MADISON MARKET
2007 1st quarter = 538 Sales
2008 1st quarter = 335 Sales
-37.73%
City of Sun Prairie (D45)
2007 1st quarter = 87 Sales
2008 1st quarter = 50 Sales
-46.25%
Madison East
2007 1st quarter = 234 Sales
2008 1st quarter = 143 Sales
-38.89%
Now why would I share this with you? More negative chatter about the real estate market is the last thing that we need! Well let me tell you, there is a huge positive to this data and its all about the buyers! See we know for a fact that we won’t finish 2008 down by 40%. A more realistic number would be similar to 2007, roughly 7.2% down overall. What does that mean to sellers?
It’s time to play catch up with our local market! Seriously, consumer confidence, the tightening of the mortgage industry, foreclosures, and even more detrimental to our first quarter was our 100″+ record snowfall this winter. There is so much buyer demand that is sitting behind this dam of unique circumstances, I believe that phenomenal days are ahead. Based on what I have observed in recent showing activity, phenomenal weather, loosened Government loan limits, and increasing consumer confidence, as well as National Association of REALTORS predictions, May, June and July will be some of the strongest months we have seen since the market shift.
As a consumer, now is the time to get you property listed with a Real Estate Professional, and anyone on my team would be happy to serve you. As a real estate professional, if you are waiting for the market to get better, the market will pass you by. Get out there today, be a professional, and help your prospects make an informed decision.
Let me know your thoughts on this, I would love to discuss this MINI-BOOM for the Greater Madison, WI Real Estate Market in greater detail with you.
Sincerely,
Brett Boettge
Team Leader | CEO
Keller Williams Realty Madison Crossroads
