madison wi real estate market update - 2015 year in review
TRANSCRIPT
Madison WI Real Estate
Market Update
Single Family Homes
DECEMBER, 2015All Data is Sourced from the SCWMLS Database
Compiled by Dan Miller, MadCityDreamHomes.com
Dan Miller, RE/MAX Preferred www.MadCityDreamHomes.com (608)-852-7071
2015 Madison Single Family Market
Real Estate Market Summary
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
Demand is STRONG
Inventory is VERY LOW
Few Listings are EXPIRING
Homes are Selling QUICKLY
Prices are at ALL-TIME HIGHS
Madison WI Home Sales:
Highest Ever in 2016
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
Madison Accepted Offers:
Have Decreased 3 Straight Months
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
* Inventory Shortage is
Restricting Buyer Activity
New Single Family Listings:
Entering the Market at a Slow Pace
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
A Low Influx of New Listings
is Limiting Home Supply and
Contributing to Rising Prices
Madison Home Supply:
Only 1.6 Months in January
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
INVENTORY SHORTAGE
Under $350,000
2015 Single Family Expired Listings
Lowest Total Since 2003
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
Sign of a
SELLERS MARKET
2015 Listing Expiration Rate
Lowest on Record (Seller’s Market)
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
5 Listings
Sold for Every
Expired
2015 Days on Market:
Lowest Since 2004
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
Avg Days on Market = 46 Days
Sign of a
SELLERS MARKET
2015 Madison Home Prices:
Highest Annual Avg on Record
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
2015 Madison Area Housing Starts
Highest Since 2007
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
• Housing starts are up but
not significantly. New
construction is not helping
to relieve the shortage of
supply.
30 Year Mortgage Rates
Under 4% in December
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
* The 30 Year Rate is
expected to average
4.5% in 2016
For More Madison Market Info Visit:MadCityDreamHomes.com/madison-home-report.php
MadCityDreamHomes.com/foreclosure-report.php
MadCityDreamHomes.com/housing-starts.php
MadCityDreamHomes.com/mortgage-rates.php
Dan Miller, RE/MAX Preferred
www.MadCityDreamHomes.com (608)-852-7071
Dan Miller• 608-852-7071• [email protected]
Chris Venden• 608-279-7852• [email protected]
Tammy Steiner• 608-290-1059• [email protected]