November Homes Sales

When you look at the entire West Side of Madison, there were 86 homes sales in November.  Not horrible for a month that typically sees the housing market begin to slow.  We certainly aren't back to pre-recession levels, but we may never be.  Several of those homes had been on the market for more than a year.  As the economists have continued to say, this may be the "new normal".

In my neck of the woods, the near west side of town in the neighborhoods of Sunset Village, Westmorland and Dudgeon -Monroe, there were a total of 8 sales last month.  Again, not horrible.  What is interesting is we have seen some houses sell this month, and some that will close in December, that have been on the market for a while.  Some for more than six months!  Does that mean perseverance pays off?  Maybe.  Does it mean that price continues to be the driver? Maybe.  Does it mean that buyers are taking their time to find just the right house?  That may be true, too.

What these statistics mean to me is that even in November, as the Holidays approach, there are still people who want to sell their home and there are people who want to purchase a home.  It's finding that match that's the tricky part!

It's also interesting to note that one of the sales in Sunset Village was a distressed sale.  While we have heard about distressed sales around the country, we haven't seen any in these neighborhoods until now (more on that in an upcoming post).  We also continue to see that when the price is right (typically lower), the homes sell quickly.

Here's what sold in November:

Sunset Village Home Sales-November

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
222 S. Midvale	$179,500	$169,900	$164,500	91%	97%	223	39
3725 Ross St.	$239,900	$179,900	$170,000	70%	94%	119	15
13 Hillside Terr.	$235,000	$235,000	$235,000	100%	100%	0	0
306 Blackhawk	$249,900	$249,900	$240,900	96%	96%	32	32
Average Total	$226,075	$208,675	$202,375	89%	96%	93.5	21.5

Dudgeon-Monroe Homes Sales-November

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
3126 Gregory	$315,000	$315,000	$280,000	90%	92%	86	86
609 Glenway	$179,000	$174,000	$160,000	89%	91%	38	14
Average Total	$247,000	$244,500	$220,000	89.5%	91.5%	62	50

Westmorland Home Sales-November

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
4114 Meyer	$238,900	$238,900	$242,000	101%	101%	5	5
19 Frederick Cir.	$319,900	$289,900	$274,000	85%	94.5%	42	29
Average Total	$279,400	$254,400	$258,000	93%	97%	23.5	17