PRICE REDUCTION

3539 Strawberry Loop is now listed for $399,900.  This 3 bedroom, 3 bathroom home was previously listed for $409,900.

NEW LISTING

6839 Phil Lewis Way is now on the market, listed for $525,000.  It has 4 bedrooms, 3 bathrooms, and 3118 square feet.

Two Open Houses Sunday 3/25

3539 Strawberry Loop will be open from 12-4pm.  It is a 3 bedroom, 3 bathroom home listed for $409,900.

3312 River Birch Ln will be open from 11-1pm.  It has 4 bedrooms, 2 bathrooms and is listed for $485,500.

Accepted Offer on 3625 Fellowship Rd

After only 5 days back on the market 3625 Fellowship Rd already has an accepted offer. 

Current Single Family listings

Address	Price	First Price	CDOM	Price/Fin Sq Ft.
6827 Phil Lewis Way^	$599,000	$649,000	259	$169
3312 River Birch Ln	$485,500	$509,000	204	$206
3539 Starwberry Loop*	$409,900	$414,900	>21	$153
3301 Glacier Ridge Rd*	$395,000	$395,000	>39	$207
6959 Apprentice Pl	$325,000	$325,000	19	$191
3315 Prairie Glade Rd^	$475,000	$475,000	162	$145
3625 Fellowship Rd	$649,000	$649,000	4	$157
	AVG	AVG	AVG	AVG
	$476,914	$488,129	#130	$175
* Limited Service(SQFT price reflects change in square footage entered into MLS)
# Not including Limited Service or FSBO listings
^ Have accepted offers

*All data from the South Central Wisconsin MLS

These listings include one 2 bedroom, three 3 bedroom, and three 4 bedroom homes.  The two accepted offers include a 4 bedroom and 3 bedroom. 

Based on last years sales pace there is currently just under 4.5 months of inventory.  This suggests that Middleton Hills should solidly be a seller's market.  One of the accepted offers is scheduled to close this month and if the other also closes prior to any new listings this would reduce the inventory to just over 3 months, further pushing things in the seller's favor.  However, sellers should be careful as it still seems buyers are willing to wait until the price is right.  This is evidenced by 3302 Prairie Glade Rd which received an offer only after several price reductions.  Once the price was right I suspect this even created some competition among buyers.  The accepted offer came within ten days of the last price reduction and ended up being for $10,000 over the last asking price!  Another example of the importance of pricing is 3315 Prairie Glade Rd.  After being on the market for several months and a few price reductions it expired, only to be relisted at a lower price and have a buyer jump within 1 day.  Pricing is key in today's market.

As we move into the spring there are definitely some positive signs for sellers.  Middleton Hills is still a very popular neighborhood. However, the new nature of the housing market and savvy buyers are still patient enough to wait for the right deal.  If the current sales pattern continues and sellers get the prices right homes could go very quickly this spring and that may even lead to a slightly more significant increase in prices by the end of the year.

February Home Sales

There is one sale to report for February.  3462 Glacier Ridge Rd sold for $685,000.  This home is currently under construction and will have 5 bedrooms, 3.5 bathrooms, and 4120 square feet.  The price for the lot was $265,000.

Condo Activity for February

There were again no condo sales for the 2nd month of the year.  However, there was some activity as Unit #218 at 6767 Frank Llyod Wright Ave has an accepted offer.  Other than this there were no changes and the listings posted below remain the same.

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	220,000	279,900	666	164
^6767 Frank Lloyd Wright Ave #218	179,000	239,000	423	142
6753 Frank Lloyd Wright Ave	239,900	244,900	257	192
6767 Frank Lloyd Wright Ave #210	269,500	269,500	147	201
AVG	254,680		373	194

Information based on data from FSBO Madison and the South Central Wisconsin MLS

*For Sale By Owner
^Has an accepted offer

3625 Fellowship Rd Back on the Market

After expiring last fall, 3625 Fellowship Rd is back on the market and listed for $649,000.  When it expired it was listed for nearly the exact same price, at $648,900.  This home has 4 bedrooms, 4 bathrooms, and 4145 square feet.  There will be an open house this Sunday from 1-3pm.