Hiestand Neighborhood in Madison, Wisconsin - Market Statistics Dec 2007

By
Real Estate Agent with Keller Williams Realty

Housing "crisis" to spare Wisconsin

 

According to a report released by the U.S. conference of mayors, the fallout from the mortgage crisis will be minimal in Wisconsin.  In 2008, the (national) economy will grow at a rate of 1.9%; however, the economies of Wisconsin cities are expected to grow between 2.3% and 3.4%. The result is better in Wisconsin because area prices and mortgage values did not climb as much or as rapidly as in other parts of the country.

According to the report, house prices will remain stable, if not increase slightly, in Wisconsin. Nationally, home prices will fall 7% in 2008, the report says. The prediction tracks with a report last week from the Wisconsin Realtors Association. That report found that in the third quarter, home prices rose 2.4% statewide to a median of $170,000, compared with $166,000 a year earlier.

The National Association of Realtors also came out with a report stating the existing home sales are to increase in 2008 as well. Home prices are also expected to climb throughout 2008.

As for the remainder of 2007, predictions are that December will have more home sales then November, with prices remaining steady.

As for your Hiestand neighborhood, market statistics are showing the following:

 

Residential Homes Sales

 

Active Listings: 7

1 home with an accepted offer

Average Asking Price: $202,957

Average Price Per Square Foot: $112

1 Pending Sales

 

November 2007 Sales: 0 Sales

 

Condominiums

 

Active Listings: 11

0 condos with accepted offers

Average Asking Price: $167,072

1 Pending Sale

 

November 2007 Sales: 1 Sales

 

Average List Price: $109,900

Average List Price Per Square Foot: $101

Average Sold Price: $107900

Average Sold Price Per Square Foot: $99

Average days on market: 105

  

* Information obtained through the SCWMLS provided courtesy of Mindy Allen, Keller Williams Realty.

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