Real Estate Market Update, 4Q 2021
4th Quarter Real Estate Market Update – Madison and Surrounding*
Exploring how sales have changed, we found that 4th quarter sales in 2021 ended with 31% less condos and 21% less single family homes sold than 3rd quarter. A normal seasonal drop around winter, but when comparing to 4th quarter 2020 there was a 10% drop in condo sales and 9.2% drop in single family homes.
Total number of Homes & Condos for Sale (as of 11/11/2022)
|Single Family Homes||160|
4th Quarter Sales
|Single Family Homes||Condos|
|Average Days on Market||122||22|
|Average Price Sold||$420,454||$271,734|
|Low Price Sold||$106,000||$67,300|
|High Price Sold||$3,130,000||$940,000|
*4th quarter dates, 10/1/21 – 12/31/21, *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.
If you are thinking about selling or buying in the summer of 2021, now is the time to talk to a Realtor and put together your plan for preparation and a timeline. Our agents are experienced in guiding you through the process and helping you evaluate what is the best plan for your goals. If selling includes completing some home updates to increase your value, we can help you decide what approach is best and connect you to recommended local experts.
Selling usually includes buying a new home! One of the most common questions we get is how to navigate the timeline. There are a number of different options and we can help you figure out what will work best for you and your family.
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.
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