1st Quarter Real Estate Market Update
Exploring how sales in South Central Wisconsin compared to last quarter and last year, we found that 1st quarter sales in 2021 ended with 2,989 homes being sold. Compared to the 4th quarter of 2020, sales went down 36.5%, but that is a normal trend as buying and selling during the winter months isn’t as popular. However, sales this quarter are up 4% compared to the number of homes sold in the 1st quarter of 2020. The quarter ended with an average sale price of $265,000, which is a 10.7% increase from the 2020 1st quarter.
*Source: Wisconsin Realtors Association. If you are interested in learning more about Wisconsin’s housing statistics, click here
Total number of Homes & Condos for Sale (as of 4/14/2021) – City of Madison and Surrounding*
|Single Family Homes||202|
1st Quarter Sales – City of Madison and Surrounding*
|Single Family Homes||Condos|
|Average Days on Market||33||36|
|Average Price Sold||$361,693||$245,661|
|Low Price Sold||$47,500||$72,500|
|High Price Sold||$1,500,000||$899,900|
*1st quarter dates, 1/1/21 – 3/31/21, *Areas Include: Madison, Fitchburg, Verona, Middleton, Waunakee, Sun Prairie, Monona, McFarland, Cottage Grove, Source: South Central Wisconsin Multiple Listing Service. Reflects entire market share from all brokerages.
If you are thinking about selling or buying in the summer of 2021, now is the time to talk to a Realtor and put together your plan for preparation and a timeline. Our agents are experienced in guiding you through the process and helping you evaluate what is the best plan for your goals. If selling includes completing some home updates to increase your value, we can help you decide what approach is best and connect you to recommended local experts.
Selling usually includes buying a new home! One of the most common questions we get is how to navigate the timeline. There are a number of different options and we can help you figure out what will work best for you and your family.
If you are interested in learning more about Wisconsin’s housing statistics, click here. If you are interested in learning more about home sales in your specific neighborhood, we can set you up with email notifications. Email us at Info@TheAlvaradoGroup.com, let us know the neighborhood you live in and we’ll take care of the rest.
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