Lake View Hills Neighborhood - North side 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 Lake Views Hill neighborhood, market statistics are showing the following:

 

 

Residential Homes Sales

 

Active Listings: 63

0 homes under contract

Average Asking Price: $228,703

Average Price per Square Foot: $140

List Price Range: $999,900 (high) to $137,000 (low)

7 Pending Sale averaging $182014

 

November 2007 Sales: 3 Sales

 

Average List Price: $169,333

Average Sold Price: $158,000

Average List Price per Square Foot: $105

Average Sold Price per Square Foot: $97

Sold Price Range: $213,000 (high) to $102,000 (low)

Average days on market: 51

 

Condominiums:

 

Active Listings: 44

1 condo under contract

Average Asking Price: $185,443

Average Price per Square Foot: $112

List Price Range: $399,900 (high) to $105,000 (low)

1 Pending Sale at  $218,900

 

November 2007 Sales: 1 Sales

 

Average List Price: $219,900

Average Sold Price: $210,000

Average List Price per Square Foot: $131

Average Sold Price per Square Foot: $125

Average days on market: 95

 

 

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

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