Watching the news and reading the paper allows us to get an idea of what is happening at the national, state, and maybe even Dane county and Madison levels. While this can be useful information it may not always tell the story of what is going on in your community. This may be especially true for a community like Middleton Hills. Looking at and analyzing data hyper-locally will present the most relevant information. What's happening in your neighborhood? Let's find out...
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.
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.
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
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