1/1/11 – 12/31/11. Source: South Central Madison MLS, Madison Proper.
Madison Proper Single Family Home Statistics
Average Sale Price: $248,216
Homes for Sale: 1226
Homes Sold: 1,996
Average Days on Market: 91
Madison Proper Condo Statistics
Average Sale Price: $193,369
Condos for Sale: 934
Condos Sold: 653
Average Days on Market: 199
Dane County Market Update:
Madison home sales decreased slightly in 2011 by 4.2% compared to sales in 2010. Dane County home sales are behind the first quarter of 2010 but are 7% ahead of the first quarter of 2009. Median prices have remained rather steady over this time period: $203,712 (2011); 200,000 (2010) and $203,000 (2009).
In breaking down the March figures for Dane County between single family homes and condominiums, this year’s single family sales (255) trail both 2010 (294) and 2009 (274) totals with the median price ($217,328) very similar to 2010 ($219,950) and 6% ahead of 2009 ($205,087).
Condominium sales, on the other hand, were 80 in 2011, 86 last year and only 58 in 2009. Median prices have jumped around over this time, from $157,500 in 2011, down to $140,000 in 2010, back to $153,450 in 2009. The most striking statistic is in total active listings – going from 2093 in 2009 to 1393 in 2011 – a 33% reduction over 2 years. That means that inventory is starting to balance out. In some areas it is a Sellers market now that prices have stabilized but for the majority of the Madison area we are experiencing either a balanced market or a Buyer’s market.
For more information on how the MLS statistics and data will help you make the right decision, please call one of our agents today.