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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.

Saturday, April 28, 2012

Open House @ 6959 Apprentice Pl 4/29

There will be an open house from 11am-1pm tomorrow.  This 1700 square foot home with 2 bedrooms and 3.5 bathrooms also recently has undergone a price reduction to $312,500.

Friday, April 20, 2012

Open Houses for Sunday, 4/22

3312 River Birch Ln and 6959 Apprentice Place with both be open from 1-3pm this Sunday.  The other open house will be at 3539 Strawberry Loop from 12-4pm.

NEW LISTINGS

There are two new listings that recently came on the market.  While one of them is technically not part of the neighborhood it it right next door and has the same architecture so I decided to include it.  This house being 3728 Pheasant Branch Rd.  It has 5 bedrooms, 3.5 bathrooms, and 3548 square feet.  The list price is $599,000.  The other new listing is 6901 Ramsey Rd.  This house has 3 bedrooms, 2.5 bathrooms, and 2795 square feet.  It's list price is $499,000.

Saturday, April 14, 2012

Price Reduction and Open House at 6839 Phil Lewis Way

There will be an open house tomorrow (4/15) from 2-4pm.  The price on this 4 bedroom, 3 bathroom home has also been reduced from $525,000 to $499,900.

NEW LISTING!

Another condo has hit the market in Middleton Hills.  It is a 2 bedroom, 2 bathroom in Gardd Parc and has 1320 square feet.  The list price is $259,000.  There will be an open house tomorrow (4/15) from 1-3pm.

Monday, April 9, 2012

NEW LISTING!

There will now be another larger home on the market in Middleton Hills.  3527 John Muir Dr has 5 bedrooms, 4.5 bathrooms, and 3384 square feet.  It is listed for $675,000.

Tuesday, April 3, 2012

Current Homes For Sale

Address
Price
First Price
CDOM
Price/Fin Sq Ft.

6827 Phil Lewis Way^^
$599,000
$649,000
234
$169

3312 River Birch Ln
$485,500
$509,000
219
$206

3539 Starwberry Loop*
$409,900
$414,900
>36
$153

3301 Glacier Ridge Rd*
$395,000
$395,000
>54
$207

6959 Apprentice Pl
$325,000
$325,000
34
$191

6839 Phil Lewis Way
$525,000
$525,000
6
$168

3625 Fellowship Rd^
$649,000
$649,000
19
$157

                      AVG
                  AVG
          AVG
                                                  AVG

$484,057
$495,271
 #102
$179


* Limited Service(SQFT price reflects change in square footage entered into MLS for 3301)
# Not including Limited Service or FSBO listings
^ Has an accepted offer
^^Sold(final sale data will be entered next month)


Excluding 6827 Phil Lewis Way and 3625 Fellowship Rd there are currently 5 homes on the market, including 2 four bedroom, 2 three bedroom, and one two bedroom.  Right now larger homes seem to be popular, with all 7 of the last sales dating back to November being 2700+ square feet.  If this pattern continues 6839 Phil Lewis should be the next to go. 

March Home Sales

Address
First
Price
Last
Price
Sold
Price
SP/FP
SP/LP
Cum.
Days on
Market
# Days
From Last
Price Change
Until Offer
3315 Prairie Glade Rd
519,000
475,000
475,000
92%
100%
139
1
3302 Prairie Glade Rd
574,900
489,500
499,000
87%
102%
170
10
Average Total
$546,950
$482,250
$487,000
89%
101%
155
6


I mentioned these two properties in my post last month.  Each of them spent 4-5 months on the market, but look at the far right column.  After getting the price right both sold immediately…and for AT LEAST 100% of the new asking price!  Again, pricing is key.  When homes are priced correctly buyers will see the value and make a good offer.  As demonstrated with 3302 Prairie Glade a properly priced home may even stir up competition and increase the value. 

April Condo Listings

There has been another accepted offer on a condo in Gardd Parc.  Unit #321 has joined #218 as having an offer accepted.  There has also been a price change at unit #311.  It is now listed for $359,000 which is down from $365,000. 

In all of the City of Middleton there have been 23 condo sales since last August.  Of those sales 12 sold for $125,000 or less, 5 sold for $300,000 or more, and 6 sold for somewhere in between.  In this mid-price range, condos in Middleton Hills accounted for 3 of those 6 sales.  Both units with current accepted offers also fit into this price range.  This mid-price range seems to be the current sweet spot as 6 of 10 condos in the city that are pending sales or have accepted offers fit those prices.


Address
Price
First Price
CDOM
Price/ Sq Ft
*6767 Frank Lloyd Wright Ave #311
359,000
365,000
NA
267
^6767 Frank Lloyd Wright Ave #321
220,000
279,900
681
164
^6767 Frank Lloyd Wright Ave #218
179,000
239,000
438
142
6753 Frank Lloyd Wright Ave
239,900
244,900
272
192
6767 Frank Lloyd Wright Ave #210
269,500
269,500
162
201
AVG
253,480
279,660
388
193






Information based on data from FSBO Madison and the South Central Wisconsin MLS

*For Sale By Owner

^Has an accepted offer