Lake View Hills Neighborhood Market Statistics February 2008 - Madison, Wisconsin

Wisconsin Home Sales Dip in 2007 But Prices Stable
State's housing news much better than nation

 

Madison - Wisconsin housing sales decreased but prices increased in 2007, leaving Wisconsin's real estate market in much better shape than many parts of the Midwest and the nation, according to the year-end analysis of existing home sales conducted by the Wisconsin REALTORS® Association (WRA).

Wisconsin home sales declined in 2007 by 10.8 percent relative to 2006, but median prices actually rose 0.2 percent over the period to $164,000, according to the REALTORS®' report.  Here in Dane County, the median price actually rose 2.9% to an average of $218,000.

"It's a mistake to look at Wisconsin's housing market through the lens of national indicators," said WRA President William Malkasian. "Housing in our state and throughout much of the Midwest is much less volatile than many markets in other parts of the country, especially the Western United States," said Malkasian. "While 2007 was a rough year for housing sales compared to our recent boom years, Wisconsin's housing future looks like it will be brighter, faster."

As for the Lake View Hills Neighborhood, statistics are showing the following from February of 2008:

 

Residential Homes Sales

 

Active Listings: 64

Average Asking Price: $213,810

Average Price per Square Foot: $141

List Price Range: $999,900 (high) to $87,360 (low)

7 homes with accepted offers

 

February 2008 Sales: 6 Sales

 

Average List Price: $167,776

Average Sold Price: $162,550

Average List Price per Square Foot: $128

Average Sold Price per Square Foot: $125

Sold Price Range: $175,000 (high) to $138,000 (low)

Average days on market: 120

 

Condominiums:

 

Active Listings: 40

Average Asking Price: $172,725

Average Price per Square Foot: $111

List Price Range: $314,900 (high) to $102,900 (low)

 

February 2008 Sales: 3 Sales

 

Average List Price: $145,700

Average Sold Price: $141,566

Average List Price per Square Foot: $96

Average Sold Price per Square Foot: $93

Sold Price Range: $174,700 (high) to $120,000 (low)

Average days on market: 120

 

 

* All information obtained through the SCWMLS courtesy of Mindy Allen, Keller Williams Realty.