The first quarter is done. Numbers are in.
What is happening in the Madison market? Is there a real estate bubble burst in Madison? Did the real estate market crash in Dane County? Or are home prices still climbing? Are home buyers still buying? Are home sellers still selling?
Here is chart of the last 3 years of the month of March real estate production for the Dane county real estate market.
Here are some quick facts:
- 109 more listings taken this March in ‘07 compared to last year
- 90 less properties sold this March in ‘07 compared to last year
- There are 501 more active listings in inventory currently
- The average sales price dropped 2% this March compared to last year
How we interupt the data
- There is more inventory and listings are taking longer to sell. We answered the question “Why are homes taking so long to sell in Madison?” in an earlier blog post. People are still selling. Buyers are still buying. It’s taking a bit longer though now when compared to before. It’s all relative though. We also see home prices stabilizing.
We will be posting the entire first quarter data soon. It will be interesting to see the bigger picture than just a month snap shot.
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June 20, 2007 at 8:09 am
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