Madison, Wisconsin

Here is some information on current trends in the market place for Madison, Wisconsin’s residential real estate.

It is a very strong market for those who sell single family homes in Madison, Wisconsin. Inventories are low, and single family residences sell fast. Residential real estate prices are increasing.

Housing sales in Madison achieved the highest number ever concerning the month of February 2018. Home sales would have been even greater if there wasn’t limited inventory.

The number of accepted offers went down for the month of February. This was because of limited supply. This inventory that is low is holding back real estate activity for the year of 2018.
The number of expired listings in the month of February were the lowest on record.
The number of new listings for February were the lowest on record.
The listing expiration rate for Madison single family residences was in February the lowest in recorded history.
By March 10th of this year, 54% of Madison’s single family residences had a contract on them with an offer that was accepted. The Madison single family residential real estate market has only a 7 month supply. This is the lowest supply in recorded history. Concerning homes less than $400,000 supply is especially very spare. It is a seller’s market irrefutably.
 Housing prices in Madison Wisconsin have risen a lot through February. This is a per square foot increase of 9 percent from 2017, a historic high. Also, an historic high, the single family residential average price has increased by 8 percent.