Hey there, Madison,

I'm Mark Gladue, broker associate with Lauer Realty Group,

Today, I'm here to talk to those of you still looking to purchase a home in Madison, whether you’re new to the market or if you’ve been looking for a while. 

Competitive offers are declining…

Here’s what we know about the market right now. Competitive offers are declining. That means fewer people are currently out in the market looking to purchase a home. 

In June, 63% of the 400+ homes that sold were in a competitive offer situation. That meant buyers were competing against multiple offers. I had a client that was in a competitive offer situation with 37 other offers, they ended up getting the property, but you know what they had to do to close?

They had to sacrifice inspection. They had to sacrifice appraisal. Those are things that you never want to hear, but that's what was happening in the market at that time. That’s just how competitive it really was. 

Competition has decreased dramatically, from 63% of offers being competitive in June, to 44% of offers being competitive in August. That’s comparative to January 2021 numbers where 38% of offers were competitive. 

So if I’m looking at the numbers correctly, and you know I LOVE these numbers, chances are that if you’re looking to buy in October, November, December or even January 2022, chances are very good that the competitive offers are going to be few and far between. 

You can still take advantage of historically low interest rates…

People don’t like to move when it’s cold or when it’s snowing so we’ll see more and more people have gotten out of the market.  These people are not taking advantage of those historically low interest rates, but you can. 

If you've been thinking about purchasing a home, if you've been beaten out so many times that you don't know what you do, then please reach out. I'm more than happy to help. 

I’m glad you stopped by.

Mark Gladue