Monday, November 23, 2020 / by Brad Brethouwer
Then vs. Now: How Is Our Local Market?
Now that spring is here, I’d like to take a look back to our February real estate market with a year over year update. I’ll be going over a few different areas since our market conditions vary between locations.
Let’s start with Madison. In February 2017, 391 properties were listed in Madison. Of those properties, 199 sold. The average list price was $285,029.
One year later, there were 311 properties listed and 239 properties sold. This is quite a bit of a jump from last year. Another area that increased was the average sale price, which went up by 10% to $316,359.
Moving on to DeForest, 27 properties were listed in February 2017. 16 properties sold in that same month, with an average sale price of $311,554. This February, there were 33 properties listed and 11 properties sold. Also, the average sale price rose 2% to $317,590.
“The average sale price of homes is rising across many local areas.”
Finally, let’s look at the year over year numbers from Sun Prairie. In February 2017, Sun Prairie saw 81 properties listed and 36 properties sold for an average sale price of $272,020.
This year, there were 70 properties listed, and 33 sold. As was the case in other areas, the average sale price rose. In Sun Prairie, average sale price saw a 9% increase year over year, rising to $298,197.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.