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The following includes MLS statistics and trends for the Madison East single family home market, for the years 2000 through 2007. Please visit our single family home snapshot for updates on the Madison East market throughout the 2008 year. Note: Madison East consists of all Madison MLS locations E01-E16. You can view a map of all Madison MLS locations here.
Sales Price
The median MLS sales price for a home on Madison's east side increased by between 6.4% and 11.3% during the years spanning from 2001 to 2005. The median price rose by 1.1% in 2006 and another 1.6% in 2007. The Madison East median price grew from $129,900 in the year 2000 to $195,000 in 2007, for an increase of $65,100 (50%). Home prices for all of Dane County also grew by 50% during the same seven year period.
Sold and Expired Listings
Madison East single family home sold listings peaked in 2003 with 1,276 transactions. A total of 1,022 homes sold in 2007, a decrease of 19.9% from the peak year of 2003. Madison East single family home expired listings grew from 205 in 2003 to 835 in 2007, for an overall increase of 307%.
Listing Success Rate
The MLS listing success rate for Madison East homes ranged between 78% and 86% during the first six years of the decade. The success rate decreased to 55% in 2007, compared to 52% for all of Dane County.
Days on Market
The average days on market for listings that sold on Madison's east side grew to 66 days in 2007, compared to 74 days for all of Dane County. The average days on market for listings that expired grew to 140 days, compared to 149 days for all of Dane County.
Total Days on Market Experience
The total days on market experience for Madison East homes grew to 180 days (5.9 months) in 2007, compared to 210 days (6.9 months) for all of Dane County. The Madison East total days on market experience has consistently out-performed the larger Dane County market every year dating back to the year 2000.
About us
This market update is provided courtesy of Dan Miller and Shawn Kriewaldt of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact Dan at 608-852-7071 (danielmiller@kw.com) or Shawn at 608-212-5743 shawnkriewaldt@kw.com). Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.
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