Are We Transitioning to a Seller Market?
February really started to get active in the Madison area housing markets. It’s a little premature to say, but there are 6 things that lead me to believe the market is shifting.
- Real estate agents, home inspectors, and mortgage lenders all seem to be swamped.
- 4 out of the last 5 deals we’ve worked on have been multiple offer situations.
- Our 2 most recent listings had accepted offers within a week of going on the market.
- Sellers are becoming a little more firm with negotiations because of the amount of showing activity they’ve been getting.
- It’s getting hard to find good inventory in some areas.
- Many properties our buyers request showings on have accepted offers already.
What do you think? Is it becoming a seller’s market? Or is this just spring activity coming early or fear that interest rates will rise?