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.
Wednesday, October 26, 2011
Price Change at 6767 Frank Lloyd Wright Ave #321
This 2 bedroom, 2 bathroom condo is now listed for $220,000. It was previously listed for $245,900.
Monday, October 24, 2011
Another Condo For Sale
6767 Frank Lloyd Wright Ave. #210 is a 2 bedroom, 2 bathroom condo with 1343 square feet. The list price is $269,500.
Wednesday, October 19, 2011
Expired Listing
3625 Fellowship Rd is no longer on the market. It is a 4 bedroom, 4 bathroom home and has 4145 square feet. It was listed for $648,900.
Monday, October 17, 2011
Price Change at 3312 River Birch Ln
The list price on this 4 bedroom, 2 bath and 2354 square foot home has been reduced from $495,500 to $485,500.
Sunday, October 16, 2011
NEW LISITNG
6988 Harmony Way is now the 10th home for sale in Middleton Hills. It has 3 bedrooms, 3.5 bathrooms, and 2791 square feet. The list price is $499,900.
Thursday, October 13, 2011
Price Change at 6901 Ramsey Rd
6901 Ramsey Rd is now listed for $479,000. It was previously listed for $509,000.
Friday, October 7, 2011
Price Change @ 6827 Phil Lewis Way
This 3 bedroom 2.5 bath home is now listed for $629,000. It was previously listed for $649,000
Thursday, October 6, 2011
Monday, October 3, 2011
Current Condo Listings
Address
|
Price
|
First
Price
|
CDOM
|
Price/ Sq
Ft
|
*6767 Frank Lloyd Wright Ave
#311
|
365,000
|
NA
|
NA
|
272
|
6767 Frank Lloyd Wright Ave
#321
|
245,900
|
279,900
|
471
|
183
|
6745 Frank Lloyd Wright Ave
|
269,900
|
280,000
|
160
|
170
|
6767 Frank Lloyd Wright Ave
#218
|
189,000
|
239,000
|
234
|
150
|
6753 Frank Lloyd Wright Ave
|
244,900
|
244,900
|
63
|
196
|
|
|
|
|
|
AVG
|
262,940
|
|
|
194
|
All listings are 2 bedroom, 2baths except 6753, which is 1 bedroom and 1 bath.
Also please note that an error I made in calculating the average price last month has been corrected.
Current Single Family Listings
Address |
Price
|
First Price
|
CDOM
|
Price/Fin Sq Ft.
|
3625 Fellowship Rd
|
$648,900
|
$662,500
|
77
|
$157.00
|
6901 Ramsey Rd
|
$509,000
|
$509,000
|
75
|
$182.00
|
3302 Prairie Glade Rd
|
$574,900
|
$574,900
|
44
|
$158.00
|
6827 Phil Lewis Way
|
$649,000
|
$649,000
|
90
|
$183.00
|
3312 River Birch Ln
|
$495,500
|
$509,000
|
35
|
$216.00
|
6813 Phil Lewis Way
|
$380,000
|
$380,000
|
110
|
$205.00
|
6820 Aldo Leopold Way
|
$524,500
|
$524,500
|
17
|
$163.00
|
6708 Aldo Leopold Way
|
$750,000
|
$750,000
|
26
|
$131.00
|
3315 Prairie Glade Rd
|
$519,000
|
$519,000
|
18
|
$158.00
|
AVG
|
AVG
|
AVG
|
AVG
|
|
$561,200
|
$564,211
|
55
|
$173.00
|
4 of the current listings are 4 bedrooms, 3 are 3 bedrooms, one is 6 and one is 2 bedrooms. The average list price is up from about $498,000 for sold homes through June and also up from $540,000 from homes sold in July. For homes that have sold so far this year the average list price/sqft was $164 and sale price $158.
September Overview
September followed August as another month with little to talk about in the neighborhood real estate market. While there were a few new listings, there were no sales and no accepted offers for either condos or single family homes. There were also no lot sales. It is not unsual to see things slow down at this time of year and that is also reflected in the fact that in all of Middleton there were only 11 single family and 2 condo sales in September. Looking at sales for August and September over the last several years there have typically been at least a couple houses that have sold. With no activity the last two months there have now been 6 fewer sales through the end of last month compared to last year, which is over 25% less. In the condo market things look a little better. This year's 7 sales is already nearly equal to last year's total of 8.
If sales from October- December the last few years are any indication then single family sales will likely end up falling short of last year. The average has been near 4 but last year there were only 2 closings. Adding in the one home that is currently pending plus the average of 4 sales would still put the total for 2011 at 19. Condo sales have also recently lagged for the last 3 months of the year with an average under 1.
One kind of surprising thing I found in doing some research is that both the condo and single family markets in the neighborhood both are within the range of what is considered a healthy level of inventory. For single family homes there is a 6 month supply and for condos there is a 4 month supply. While this would normally indicate a level playing field or slight advantage to sellers I think the perception of the housing market and the uncertainty with the economy make that less clear.
If sales from October- December the last few years are any indication then single family sales will likely end up falling short of last year. The average has been near 4 but last year there were only 2 closings. Adding in the one home that is currently pending plus the average of 4 sales would still put the total for 2011 at 19. Condo sales have also recently lagged for the last 3 months of the year with an average under 1.
One kind of surprising thing I found in doing some research is that both the condo and single family markets in the neighborhood both are within the range of what is considered a healthy level of inventory. For single family homes there is a 6 month supply and for condos there is a 4 month supply. While this would normally indicate a level playing field or slight advantage to sellers I think the perception of the housing market and the uncertainty with the economy make that less clear.
Subscribe to:
Posts (Atom)