Watching the news and reading the paper allows us to get an idea of what is happening at the national, state, and maybe even Dane county and Madison levels. While this can be useful information it may not always tell the story of what is going on in your community. This may be especially true for a community like Middleton Hills. Looking at and analyzing data hyper-locally will present the most relevant information. What's happening in your neighborhood? Let's find out...
About Me
- Jed Hohlbein
- One of the most important things to success in todays real estate market is to make sure the price is right. Getting it right the first time can save time and money. This is why I like to look at and analyze the data on sales. Knowing what has been selling, at what price, and how long its been on the market gives me a special insight into the market in Middleton Hills. With this blog I hope to share some of that insight in a way that's easy to understand. Please share your thoughts and comments and always feel free to contact me with any questions.
Tuesday, August 30, 2011
Price Change at 6745 Frank Lloyd Wright Ave
The price of the condo at 6745 Frank Lloyd Wright Ave has been reduced from $275,000 to $269,900.
Monday, August 29, 2011
New Listing!
3302 Prarie Glade Rd has been on the market for 9 days and is listed for $574,900. It has 4 bedrooms, 3 & 1/2 baths and is 3630 square feet.
Friday, August 19, 2011
3728 Pheasant Branch Rd Expired
The listing at 3728 Pheasant Branch Rd expired. It was listed at $559,900.
Monday, August 15, 2011
Middleton ranked #8 on MONEY's Best Places to Live
Middleton was once again rated as one of the best places to live in America. There is also a special mention of Middleton Hills (though not by name) and the great concept behind the community.
http://finance.yahoo.com/real-estate/article/113316/best-places-to-live-in-america-2011
http://finance.yahoo.com/real-estate/article/113316/best-places-to-live-in-america-2011
Wednesday, August 10, 2011
6767 Frank Llyod Wright Ave. #305 Pending
Condo #305 in Gardd Parc is a pending sale. It is 1 bedroom, 1 bath, and 1042 sqft. The list price is $179,900.
Monday, August 8, 2011
Lot Sales Since 1997
This information was based only on data from the MLS and accessdane.
Year | Address | Purchase Price | Acreage | 2011 Assessment | Avg Annual Change in Value |
1997 | 3301 Glacier Ridge Rd | $34,900 | .12 | $92,600 | 11.8% |
1997 | 3316 Prairie Glad Rd | $56,905 | .22 | $122,800 | 8.3% |
1999 | 3320 Hackberry Ln | $39,805 | .10 | $94,800 | 11.5% |
3321 Hackberry Ln | $39,805 | .12 | $101,900 | 13% | |
3316 Hackberry Ln | $40,800 | .11 | $97,500 | 11.6% | |
3312 Hackberry Ln | $40,800 | .12 | $99,400 | 11.4% | |
3317 Hackberry Ln | $41,900 | .13 | $106,300 | 12.8% | |
6818 Frank Lloyd Wright Ave | $46,455 | .16 | $137,700 | 16.4% | |
3313 Hackberry Ln | $47,405 | .16 | $137,800 | 15.9% | |
6814 Frank Lloyd Wright Ave | $48,900 | .17 | $138,600 | 15.3% | |
6822 Frank Lloyd Wright Ave | $48,900 | .16 | $136,500 | 14.9% | |
6826 Frank Lloyd Wright Ave | $48,900 | .16 | $136,400 | 14.9% | |
3325 Hackberry Ln | $48,900 | .19 | $120,100 | 12.1% | |
6753 Black Cherry Ln | $49,900 | .13 | $116,800 | 11.2% | |
6810 Frank Lloyd Wright Ave | $54,900 | .17 | $152,100 | 14.8% | |
3308 Hackberry Ln | $54,900 | .20 | $133,400 | 11.9% | |
2000 | 3513 Strawberry Loop | $39,500 | ? | ? | ? |
2001 | 6832 Erdman Blvd | $64,900 | .14 | $132,500 | 10.4% |
2002 | 6809 Erdman Blvd | $68,562 | .18 | $141,100 | 11.8% |
2004 | 6977 Apprentice Pl | $59,900 | .12 | $99,800 | 9.5% |
Lot 318 Ramsey Rd | $77,500 | ? | ? | ? | |
2005 | 6745 Phil Lewis Way | $92,500 | .19 | $117,500 | 4.5% |
6939 Harmony Way | $68,900 w/ home 384,909 | .12 | $98,900 | 7.2% | |
6736 Ramsey Rd | $85,000 w/home 471,102 | .13 | $105,800 | 4.1% | |
2006 | 3736 Pheasant Branch Rd | $150,000 | .19 | $142,400 | -1% |
3740 Pheasant Branch Rd | $150,000 | .19 | $142,700 | -1% | |
3760 Pheasant Branch Rd | $199,000 | ? | ? | ? | |
2007 | 3620 John Muir Dr | $140,000 | .15 | $111,600 | -5.1% |
3732 Pheasant Branch Rd | $150,000 | .26 | $159,300 | 1.6% | |
3332 Glacier Ridge Rd | $165,000 | .16 | $171,000 | 1% | |
3543 John Muir Dr | $185,000 | .32 | $156,300 | -3.9% | |
2008 | 3340 Glacier Ridge Rd | $139,900 | .11 | $142,700 | 1% |
2011 | 6825 Ramsey Rd | $164,900 | .14 | $132,500 | |
6853 Ramsey Rd | $172,000 | .15 | $136,300 |
*Data compiled based on MLS figures. Please note that many sales were not recorded in the MLS.
Property values have skyrocketed since the beginning of the decade. Since that time most have increased well over 10% annually. Toward the middle of the decade fewer lots were available and the price buyers were willing to pay increased dramatically. Most of these purchases were for well above the assessed value of the lots. The fact that earlier lot sales saw purchase prices only slightly above or near the assessed value combined with the increased demand and decreased availability of lots led to the dramatic difference in appreciation shown in the table above. However, recent sales also prove that today’s buyers are willing to pay above and in some cases well above the assessed value of land. So while assessments have fallen flat, maybe demand has not. Another factor is the neighborhood association. They have been controlling the pace of growth through the Middleton Hills master plan. The neighborhood is now in the 8th and final phase of residential development. The re-plat of the sixth phase added residential lots to Ramsey Rd. So far 5 have sold, one has an accepted offer, and six more are for sale. Of the 15 lots along Glacier Ridge Rd, 7 have sold and two more are currently for sale. Six additional lots have yet to be listed. These remaining lots have a prime location with incredible views and I expect they will sell for a premium.
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