By Mary Whitcomb and Maddie Richgels
Before the large sporting goods chains came to Madison, Wes Zulty Sports was the go-to store for athletic needs, with several locations and a great reputation. Wes was a sharp businessman. As a small business owner myself, he once told me, “No matter what, you won’t sell skis in the summer.”
The same goes for Madison real estate — although the rule is not quite as hard and fast. For sellers, the best time to list a home is between February and May. Very little goes on between Thanksgiving and New Year’s, and that pent-up demand brings buyers out in droves by mid-January. That activity creates competition, which is good for a seller’s bottom line. The highest number of accepted offers is usually between April and May, and on average homes sell for the highest amount between March and April. All of this is connected to activity that has occurred between 30-60 days earlier.
That being said, we don’t always have control over the timing of a sale. Fortunately, as Madison has grown, the demand for homes throughout the entire year has increased. The farther you are from peak season, the more important it is to nail the price and make sure your home shows well.
For buyers, inventory levels are highest in the spring — but so are the prices. Madison is a great place to live, and real estate is an excellent investment here.
That translates into increased interest from prospective buyers. Timing is important and being prepared is the key — getting pre-approved for a mortgage takes time, so it’s important to reach out to a lender as soon as you make the decision to buy a home.
An experienced realtor will have good advice for writing a strong offer. There are many ways to improve your odds of writing a winning bid, from using an escalation clause to offering inspection and appraisal deficiency credits. If finding a good deal on a home is important to you, then it’s best to shop in the fall. There are fewer buyers looking and most homeowners would rather sell for less than hold on to a home over winter.
The Whitcomb Group
608.712.9745 | [email protected]
Madison, WI 53703
