Buying a home isn’t always the first thought of those who are planning to move. The first thought – and sometimes concern – is to determine if they should sell right now or wait. The Madison real estate market can be somewhat competitive. Depending on the area’s available inventory, the current market conditions, and the overall needs of the buyer, it may not be time to list your existing home. On the other hand, there are a few key reasons present today that can make a big difference in why you should sell.
What Is the Market Like?
The Madison real estate market is a large market. At this time in February, there are over 480 homes listed for sale. That’s a significant number of new construction and existing homes available for buyers. There are also another 100 or so homes listed as pre-foreclosures, foreclosures, or bank-owned properties. That, again, means there can be a lot of competition. Keeping this in mind, a homeowner that wants to move needs to do several things right in order to get the sale they desire:
- You’ll need to price your home right. The current median sale price of a home here is $165,000. That is about $90 per square foot. That’s a highly competitive number to start with. Your real estate agent will use a comparative market analysis to get a more accurate estimate of your home’s worth.
- You’ll need to make sure your home is show worthy. That is, you’ll want to ensure your home offers the features and updates that today’s home buyer expects. You’ll find a number of fantastic ways to inexpensively upgrade your option available through your real estate agent.
It is specifically important to work closely with your real estate agent in Madison if you want to sell your home and buy another one quickly. It can take some time to really understand the current market conditions and to price your home right. The good news is that Madison’s real estate market is strong and selling doesn’t often take long when a home has real estate support.