2nd Quarter Real Estate Market Update – Madison and Surrounding*
The spring market closed out with about 42% more homes and 37% more condos sold compared to 1st quarter. Properties sold much faster. Many properties were on the market half as long as during the 1st quarter.
We are seeing typical seasonal changes in the market as a slower 3rd quarter is in gear. Our team is expertly helping clients navigate the changing market and advise buyers’ on how to shift strategy when writing offers and giving Seller clients the best insight as some micro areas are still seeing heavy competition while others are not. Clarifying expectations are critical right now.
Total number of Homes & Condos for Sale (as of 7/20/2022)
| Single Family Homes | 332 |
| Condos | 116 |
2nd Quarter Sales
| Single Family Homes | Condos | |
|---|---|---|
| Homes Sold | 1392 | 444 |
| Average Days on Market | 10 | 15 |
| Average Price Sold | $487,450 | $304,342 |
| Low Price Sold | $95,000 | $73,000 |
| High Price Sold | $4,000,000 | $2,225,000 |
*2nd quarter dates, 4/1/22 – 6/30/22, *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.
Thinking about selling or buying in 2022? We can help you put together your plan for preparation and a timeline and assist you in evaluating what home updates will increase your value, connect you to recommended local experts, and guide you through negotiations.
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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