About Me
- Jed Hohlbein
- One of the most important things to success in todays real estate market is to make sure the price is right. Getting it right the first time can save time and money. This is why I like to look at and analyze the data on sales. Knowing what has been selling, at what price, and how long its been on the market gives me a special insight into the market in Middleton Hills. With this blog I hope to share some of that insight in a way that's easy to understand. Please share your thoughts and comments and always feel free to contact me with any questions.
Sunday, July 31, 2011
Middleton Hills Garage Sale
Several members of the neighborhood will be holding garage sales from August 4th-6th. The primary location of the sales will be near John Muir Drive and Pheasant Branch Rd, although there will be others spread throughout the neighborhood. Two specific locations will be 3732 Pheasant Branch Rd and 3625 John Muir Dr. The latter is planned to be open from 8-12 on Thursday and Friday, and 8-3 on Saturday. I have asked for more details on the sale and hope to make another post once I receive more information.
Tuesday, July 26, 2011
3728 Pheasant Branch Rd Re-listed
The 3548 sqft, 5 bedroom, 3.5 bathroom home is on the market for $559,900.
Thursday, July 21, 2011
NEW LISTING
Another home has been put on the market in Middleton Hills, bringing the total to 7 listed properties, 2 currently with accepted offers. The new listing is 6901 Ramsey Rd. It is 2795 sqft, has 3bedrooms and 2 1/2 baths, and is priced at $509,000.
Tuesday, July 19, 2011
NEW LISTING
3625 Fellowship Rd was just put on the market for $662,500. It is a 4 bedroom, 4 bath home with 4145 square feet. Also, 6805 Aldo Leopold Way now has an accepted offer.
Friday, July 15, 2011
Friday, July 8, 2011
Current Condo Listings
Current Condo Listings
Address | Price | First Price | CDOM | Price/ Sq Ft |
6755 Frank Lloyd Wright Ave | 200,000 | 225,000 | 95** | 160 |
*6767 Frank Lloyd Wright Ave #311 | 365,000 | NA | NA | 272 |
6767 Frank Lloyd Wright Ave #321 | 255,000 | 279,900 | 405 | 190 |
6745 Frank Lloyd Wright Ave | 275,000 | 280,000 | 94 | 170 |
6751 Frank Lloyd Wright Ave | 339,000 | 349,000 | 126 | 138 |
6767 Frank Lloyd Wright Ave #218 | 199,000 | 239,000 | 168 | 158 |
6753 Frank Lloyd Wright Ave | 244,900 | 244,900 | 2 | 196 |
* Information based on data from FSBO Madison and the South Central Wisconsin MLS
*For Sale By Owners
**Has also been previously listed. Original price was $269,900
2011 Condo Info through June
2011 Condos | ||||||||
Sales through June | ||||||||
Address | First Price | Last Price | Sold Price | SP/FP | SP/LP | Cum. Days on Market | # Days From Last Price Change Until Offer | |
6735 Frank Lloyd Wright Ave #210 | 199,500 | 199,500 | 189,000 | 95% | 95% | 93 | 93 | |
6749 Frank Lloyd Wright Ave | 270,000 | 250,000 | 225,000 | 83% | 90% | 215 | 107 | |
6767 Frank Lloyd Wright Ave #108 | 279,900 | 269,900 | 265,500 | 95% | 98% | 30 | 21 | |
6747 Diversity Rd | 349,500 | 335,000 | 320,000 | 92% | 96% | 289 | 194 | |
6850 Frank Lloyd Wright Ave | 374,900 | 374,900 | 367,500 | 98% | 98% | 64 | 64 | |
6846 Frank Lloyd Wright Ave | 389,600 | 389,600 | 380,500 | 98% | 98% | 31 | 31 | |
Average Total | $310,567 | $303,150 | $291,250 | 93% | 96% | 120 | 85 | |
There are two sales to report for the month of June. The first, 6749 Frank Lloyd Wright Ave, is 2 bedrooms, 2 baths with 1530 Sqft and sold for $225,000. The second is 6846 Frank Lloyd Wright and is 3 bedrooms, 3 baths, with 2813 Sqft and sold for $380,500. With the new sales that brings this year’s total to six. With 7 condos still on the market, one sale pending (6767 Frank Lloyd Wright Ave #305), and six months left in the year, condo sales are easily on pace to beat out those of the past three years.
I tried to look at sale price compared to assessed value for condos as well, but couldn’t come up with enough data from the MLS to make any definite conclusions. I believe this was due to so many of the sales earlier in the decade being new construction. However, the limited info I found from 2007 does support the same enthusiastic buying as was happening with single family homes. Last year that was way down, but condos were still selling on average at 103.5% of assessed value. This year has so far been down again, with the average being 97.5%. However, I must point out that 3 of the 6 sales have been for above assessed value.
The data for condos seems to be sending mixed messages so far this year. The number of sales is on the rise, with some places going within 1-3 months, but then there are also many that have been on the market for over 6 months to 1 year. The asking price/sale price ratio is the same as single family at 96% and the time on the market is comparable, but there aren’t as many new listings and they aren’t getting offers as fast. Lastly, both price per square foot and price to assessed value are lower than those of single family sales. It may take another couple months for the condo market to come more into focus in Middleton Hills.
Current Single Family Listings
Address | Price | First Price | CDOM | Price/Fin Sq Ft. |
6960 Apprentice Pl | $359,900 | $380,000 | 342 | $168.00 |
6920 Frank Lloyd Wright* | $400,000 | $400,000 | 35 | $150.00 |
6827 Phil Lewis Way | $649,000 | $649,000 | 3 | $183.00 |
3722 Pheasant Branch | $650,000 | $735,000 | 517 | $151.00 |
6805 Aldo Leopold Way | $449,500 | $449,500 | 18 | $169.00 |
6813 Phil Lewis Way | $380,000 | $380,000 | 23 | $205.00 |
6996 Harmony Way* | $465,000 | $465,000 | 8 | $194.00 |
AVG | AVG | AVG | AVG | |
$479,057 | $494,071 | 135^ | $171 | |
*has an accepted offer | ||||
^17 excluding the 2 outliers | ||||
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