Could Central Madison Condo Sales be on the Rebound?

I’ve had a sense lately that the condominium market in downtown Madison may be showing signs of life.  What I mean by this is that we are seeing an increase in activity and consequently offers and closings.

Is it dramatic?  No.  Is it back to the peak in 2006?  Not at all.  Yet what is happening is the supply is moving downward and the median sale prices are trending upward which is a good indication that some life is coming back into the market.

As a buyer this means you may have missed the absolute bottom and now would be the time to take action.

As a seller, if you’re not getting activity, you should truly consider why and make the needed adjustments.

Check out the link below to see the trending.

53703 Sold Median Price Chart Feb 2011

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