1914 Monroe St

Madison, WI 53711

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Real Estate Market Update, 2Q 2022

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2nd Quarter Real Estate Market Update – Madison and Surrounding*

The spring market closed out with about 42% more homes and 37% more condos sold compared to 1st quarter. Properties sold much faster. Many properties were on the market half as long as during the 1st quarter.

We are seeing typical seasonal changes in the market as a slower 3rd quarter is in gear. Our team is expertly helping clients navigate the changing market and advise buyers’ on how to shift strategy when writing offers and giving Seller clients the best insight as some micro areas are still seeing heavy competition while others are not. Clarifying expectations are critical right now.

Total number of Homes & Condos for Sale (as of 7/20/2022)

Single Family Homes 332
Condos 116

2nd Quarter Sales

Single Family Homes Condos
Homes Sold 1392 444
Average Days on Market 10 15
Average Price Sold $487,450 $304,342
Low Price Sold $95,000 $73,00
High Price Sold $4,000,000 $2,225,000

*2nd quarter dates, 4/1/22 – 6/30/22, *Areas Include: Madison, Fitchburg, Verona, Middleton, Waunakee, Sun Prairie, Monona, McFarland, Cottage Grove, Source: South Central Wisconsin Multiple Listing Service. Reflects entire market share from all brokerages.

Thinking about selling or buying in 2022? We can help you put together your plan for preparation and a timeline and assist you in evaluating what home updates will increase your value, connect you to recommended local experts, and guide you through negotiations.

If you are interested in learning more about Wisconsin’s housing statistics, click here. If you are interested in learning more about home sales in your specific neighborhood, we can set you up with email notifications. Email us at Info@TheAlvaradoGroup.com, let us know the neighborhood you live in and we’ll take care of the rest.

Thanks for supporting our local real estate business and please check out our blog to learn more about our social justice initiatives, and helpful ways to keep your home and community the best it can be!

Related posts

Real Estate Market Update, 3Q 2021

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3rd Quarter Real Estate Market Update

Exploring how sales have changed, we found that 3rd quarter sales in 2021 ended with less than a 5% increase from 2nd quarter and average sale price 18% higher compared to 1st quarter. 

*Source: SCWMLS

Total number of Homes & Condos for Sale (as of 10/15/2021) - City of Madison and Surrounding*

Single Family Homes 401
Condos 119

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