Monday, April 2, 2012

First Quarter Home Sales

The first quarter housing market on the near West Side of Madison has been brisk.  In the last three months, 16 homes have sold in the Westmorland, Sunset Village and Dudgeon-Monroe neighborhoods.  That figure may seem low, but last year at this time, only three homes sold during the 1st quarter.  Homes sales have tripled over a year ago at this time.

Price continues to be a driving force.  In a few cases when the price has been dropped, the selling price is actually higher than the list price, which may mean the lower price incited a bidding war!

Here's another interesting fact, homes that are on the market now are selling quickly.  There are several homes on the near West Side that have accepted offers after only days on the market.  The sellers are putting their best foot forward, the buyers are out and willing to negotiate and the interest rates continue to remain fairly steady.

A few other facts:

  • 131 - Homes currently on the market on the near West Side
  • 28 - Homes currently on the market with accepted offers (nearly 25% of homes listed have an offer)
  • 84 - Average days on the market before an accepted offer
  • 14 - Number of homes that had an offer in 30 days or less

Here's what sold on the near West Side during the first quarter of 2012:

Sunset Village - 1st Quarter Home Sales-2012

Address
1st Price
Last Price
Sold Price
SP/FP
SP/LP
Cum. Days of Market
# Days From Last Price Change Until Offer
3553 Heather Crest
$183,000
$149,900
$153,000
84%
102%
323
23
4330 Bagley Pky
$239,900
$169,500
$165,000
69%
97%
243
14
306 N. Owen
$189,900
$179,900
$170,000
89%
94%
103
56
510 N. Meadow
$198,750
$191,000
$190,000
95%
99%
209
17
330 Westmorland
$225,000
$199,900
$193,000
85%
96%
172
60
Average Total
$207,310
$178,040
$174,200
84%
84%
210
34


Westmorland - 1st Quarter Home Sales - 2012
Address
1st Price
Last Price
Sold Price
SP/FP
SP/LP
Cum. Days of Market
# Days From Last Price Change Until Offer
4018 Tokay
$181,900
$181,900
$175,000
96%
97%
69
69
3825 Paunack
$248,500
$231,000
$217,500
87%
94%
95
2
522 Holly
$249,900
$244,900
$233,000
93%
95%
166
2
2 Birch Cir
$300,000
$275,000
$280,000
93%
101%
167
46
457 S. Owen
$339,000
$299,900
$286,000
84%
95%
54
18
564 Toepfer
$297,000
$297,000
$287,500
96%
96%
97
97
Average Total
$269,383
$254,950
$246,500
91%
91%
91
39

Dudgeon-Monroe-1st Quarter Homes Sales - 2012
Address
1st Price
Last Price
Sold Price
SP/FP
SP/LP
Cum. Days of Market
# Days From Last Price Change Until Offer
616 Pickford
$225,000
$225,000
$205,000
91%
91%
7
7
224 Virginia Terr
$299,900
$299,900
$253,000
84%
84%
19
19
502 Edgewood
$329,900
$294,900
$276,750
83%
93%
218
30
1931 Rowley
$399,900
$374,900
$353,200
88%
94%
164
45
2111 Commonwealth
$569,900
$569,900
$542,000
95%
95%
16
16
Average Total
$364,920
$352,920
$325,990
89%
92%
84
23

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