1st Quarter Real Estate Market Update – Madison and Surrounding*
It can be complicated for people who are considering a move to plan out how to best go about that based on the low inventory and the creeping interest rates. There is no simple answer or broad stroke advice that we can offer. While people’s situations are often unique, equity and financial situations differ too, so we always recommend calling on your trusted advisors and taking the time to learn the details and options for your personal situation. Our team has countless conversations in a consulting fashion to debunk myths and clarify what to expect in a market like this.
Total number of Homes & Condos for Sale (as of 4/18/2022)
| Single Family Homes | 149 |
| Condos | 74 |
1st Quarter Sales
| Single Family Homes | Condos | |
|---|---|---|
| Homes Sold | 798 | 278 |
| Average Days on Market | 23 | 25 |
| Average Price Sold | $442,116 | $282,398 |
| Low Price Sold | $120,000 | $78,000 |
| High Price Sold | $3,000,000 | $1,250,000 |
*1st quarter dates, 1/1/22 – 3/31/22, *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.
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.
Thanks for supporting our local real estate business and please check out our blog to learn more about our social justice initiatives, and helpful ways to keep your home and community the best it can be!
