Over the last year, a 17 percent decrease in the number of homes available statewide has
prompted a seven percent increase in median home sales — from $163,500 to $174,900.
The tight market has caused Realtors to become more creative than ever.
While supply is limited across the board, it’s particularly slim for homes priced
below $350,000. In Madison, homes in that price range have less than 1.5 months of
inventory, according to the South Central Wisconsin MLS. That’s compared to 1.8 months
of inventory for homes in all price ranges. Inventory selection is more plentiful for homes
priced between $800,000 - $899,999, whereas homes priced under $200,000, sell in a
New home construction should address the supply issue eventually. The National
Association of Realtor’s has predicted a seven percent increase in new homes this year.
Still, at least for the short-term, buyers need to be prepared to move quickly, write strong
offers and limit contingencies.
How do you find out if the time to move is right for you? Call Restaino & Associates today
for a free, up-to-the-minute market valuation on your current home. We’ll not only let you
know how much you’ll get for your current home in today’s market, but can also show you
everything listed for sale by every member company of the Multiple Listing Service, visit
our website at https://www.restainohomes.com No cost-no obligation. It’s your move. At
Restaino & Associates, we’re here to make sure the time is right for you.