I haven't seen the real estate market this hot since the mid 2000's. While that scares me on a whole other level it does open the door for making great bank on the home you're in.
If you plan on staying put for the next 20 years more power to you. However, if you're are thinking of selling sometime soon, now is the right time. I know, you are asking; where do I go if sell now. Great question. Are you looking to relocate in the next few years, are you looking to downsize, do you want to move into a market outside the Madison area. All those reasons are valid and workable.
A technique to maximize your price is to underprice your home. I know, I can hear the screams from here. There is a method to my madness and it is a technique the banks are using now on foreclosures.
First you underprice your home by a fair amount, say 10%. Than you put it on the MLS and make a note that you are going to be taking offers for a period of say 10 days. If you price it right, and the realtor knows what they are doing, you will be inundated with showings.
If your home shows well you will get multiple offers including offers over asking price. If you are not, than the market has told you that what you thought it was worth is wrong. Done right, with a good realtor who knows the market and what your home will sell for, you will have multiple offers.
You then send out an email to all the people with offers letting them know that you have multiple offers and if they want to raise their bid to get the property they can. About 50% will raise their bids, sometimes more depending on the desirability of your house. Done right, the offers will be higher than you would have received had you priced it right at the beginning instead of using this technique. Thank you hot market.