Q1 2021 Market Update
As spring has sprung and the world is starting to get back to business, we see our standard “spring-frenzy” selling season well underway, and the local real estate market is strong. Low inventory and high competition are the trending themes of the current market. In Q1 2021, Dane County had a 13.6% increase in total dollar sales volume vs. the same time last year, despite a 14% decrease in new listing activity. The median sales price grew a dramatic 14.3%, the average sold $/SqFt was up nearly 9%, and properties were selling above asking prices in most circumstances. Specific price points around the market average are highly competitive.
If you are in the market to sell your home, low inventory levels (less than a month of supply) mean competition is intense. But transitioning from one home to another can be complex in today’s market and requires a lot of coordination and strategy. Our team can help start getting your home ready for sale and implement the best plan for your needs and overall transition. Your virtual presence and marketing strategy continues to be important. Our marketing package works to ensure the best possible exposure online, including a complimentary staging consultation, priority access to our in-house repairs/renovation company, and both professional photography and videography.
If you are in the market to buy, it is crucial to partner with a skilled and experienced agent that can assist you in crafting an offer that will put you in the best position to secure a property in a highly competitive market. Our team would love to partner up! We have years of expertise working with buyers and a track record of creative negotiating. We know how to help you make a competitive offer. We also work hard to scour the market for our clients, set you up with tailored listing notifications, and provide quick access to properties.