We've just completed our mid-year home and condo updates, and the latest numbers show the seller's market is alive and well in the city of Madison. Here's our quick overview of the latest trends in the Madison real estate market. 

The Madison condo market

Madison condo supply is historically low and driving prices higher. Take a look at the graph below, which shows how the number of available condo listings has changed from July, 2015 to July, 2018. Amazingly, active condo listings have decreased by 48% over the last 3 years. 

Over the same 3-year stretch condo supply has dipped to well below 2 months of inventory. This historically low number is indicative of a very strong seller's market. 

Condos are also selling much more quickly

There is a party planned on Saturday, and all are invited. With live music, fun and games, the 3rd Annual West Fest promises to be a fun way to spend the day. West Fest is designed to celebrate diversity and build community. Elver Park offers the perfect venue. The park offers beautiful nature trails, a variety of sports options, an indoor shelter, playgrounds, and, of course, a splash pad, which will be key in keeping things cool.

With community-building in mind, the event planners have created a long list of contests and activities to include all ages. Events include a Father/Son basketball tournament, lots of free carnival games for kids, a bouncy house and live music and entertainment.  Seniors are encouraged to come out for BINGO (with prizes).

In this real estate careers article we cover the 5 daily habits which are the keys to success on our team. Applying these 5 habits doesn't require you to have any previous real estate experience, and staying true to them offers huge financial benefits which grow like compounding interest. It's been our experience that the agents who embrace these habits can expect to make $125,000 - $175,000 annually by the time they've completed their second full year on our team. Just as important, the entire team benefits when every agent consistently applies these habits. Each of us becomes more creative, more productive, and more efficient when our fellow agents share the right mindset and the right focus. 

5 keys to success on our real estate team

Apply

Although many price points and locations in the Madison area have become long-term seller's markets, the month of July offers a good window of opportunity if you're still looking for the right home or condo in 2018. The reason is buyer competition decreases predictably in July, as the graph below shows. 

In fact, buyer activity will be much more subdued for the rest of the year compared to the feverish pace we experienced this Spring. Many families will be focused on their summer vacation, the coming school year, and the holiday season before their attention returns to real estate. Then buyer demand will rise predictably again in early 2019. 

More balance means more opportunity for buyers

A more balanced market means there will be fewer

Shake the Lake may be over, but there are several fireworks events to be enjoyed this week. The Wisconsin State Journal has a solid list of them here.

But if you're looking for fun that lasts all day, or even all week long, look no further than the Stoughton Fair. The annual fair kicks off Wednesday morning at the Stoughton Fairgrounds (Mandt Park). This five day event celebrates agriculture, community and old-fashioned neighborly fun. At 9 a.m., you can watch the beef show. Then, starting at noon, there are carnival rides for all ages.  Rides are purchased by ticket, or a wristband may be purchased for a full-day's use. Buy your wristband by Tuesday night, and receive discounted rates. Live music continues throughout the afternoon, with Josh Cohen

Whether you just bought a home or are getting ready to sell, there are many ways you can improve the look and functionality of your front yard. Landscape architect Paul Ganshert shares the following tips for adding plantings, lighting, and other outdoor elements to enhance your home.

Keep it clean and simple

Beauty is in the eye of the beholder, so don't just install an expensive pond or retaining wall because you think you should -- it may end up being a maintenance headache for you and future homeowners. For starters, focus on the basics that appeal to a broader audience, like making sure your plants are manicured and the beds and lawn are free of weeds.

Adjust plant material

Begin by pruning existing plant material correctly and

After being cooped up inside with all of the rain, this weekend is shaping up to be a great time to go outdoors and celebrate the start of summer. In Dane County, two free events will offer lots of family fun, music, and even fireworks: Festival Foods' Shake the Lake and Oregon's Summer Fest.

Summer Fest

When: June 21-24
Fireworks: Around 9:30 p.m. Saturday
Where: Kiser Firemen's Park, 245 Brook St., Oregon
Info: www.oregonwisummerfest.com
Activities: Carnival rides and games, food vendors, and softball, volleyball, and cornhole tournaments; nightly live music featuring Cherry Pie on Friday and Angels & Outlaws on Saturday; Saturday arts and crafts market, run/walk, pork dinner, and fireworks; Sunday car show, parade, bbq rib or chicken dinner with

Make sure your ears are tuned to the many restaurants, parks and even front porches playing music on Thursday! The 6th Annual Make Music Madison includes more than 300 live music events across the city. What better way to enjoy the longest day of the year?

The event is part of the larger International Summer Solstice Music Celebration, which began in France in 1982, and now stretches to more than 800 cities and 120 countries around the world. The goal of this celebration is to expose as many people as possible to live performances, encourage enjoyment of the day and to do it at no charge. Anyone who wants to play music is invited to perform. In Madison, this means there will be music in front yards, in area parks, and in the many restaurants that often

We recently wrote how the city of Madison has become a perpetual seller's market. Our latest single family home and condo reports show the month of May was no exception. Here's a short summary of the latest market trends in Madison.

Home and condo inventory

The Madison single family home market has had less than 2 months of supply since December of 2015. Right now there are only 1.2 months of inventory in the city, which is down from 1.4 months from the same time last year.  

Supply is also very low in the local condo market. Right now there are only 1.3 months of inventory available for sale in the Madison condo market, which is down from 1.5 months in June of 2017. 

New MLS listings

New MLS listings are in short supply in 2018 -

Nearly every day in summer you can visit a farmers market in the area. But did you know that there is another option for getting fresh, local produce? By becoming a member of a CSA, or community supported agriculture, you can receive a weekly or biweekly box of seasonal produce that is often available for pickup at the nearby farm or distribution sites throughout the county. Purchasing a "share" in advance helps to cover some of the farm operating costs, so members are directly supporting the farmers who grow their food.

CSAs have gained popularity over the last decade, and one of the earliest adopters for this model in Dane County was Vermont Valley Community Farm, LLC. Barb and David Perkins started their family-owned farm on 5 tillable acres in Blue