Savannah Village- Waunakee, WI Real Estate Market Report and Absorption Rate Trend for May 2011

Savannah Village Real Estate Market Report for May 2011 continues to show us a oversatuated market. With only 15 homes sold here last year and 26 currently on the market this gives us over 20 Months Supply of Homes on the Market.

Average Days on Market for Sold Homes is around 120 days- this number could go up with what is happening with the under contract and active numbers. Under Contract is sitting at 182 Days on Market and Active is just over 200 Days on Market. Definitely not good indicators.

Homes are still getting around 92%-93% of intial asking price and averaging around $118/sq ft.

Looking like Savannah Village will be in a Buyer's Market for the foreseeable future. 

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

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Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

East View Heights- Verona, WI Real Estate Market Report and Absorption Rate Trends

East View Heights- Verona, WI Real Estate Market shows us a pretty typical Buyer's Market. With approximately 10 Months Supply of Homes currently available, around 75 days on market for sold homes, and Sellers getting around 94% of their original asking price all indicators seem to be pointing in the same direction. 

The couple of homes currently under contract and the Average Days on Market for active homes sitting at 94 days also seem to fall in line. The one slightly concerning sign is that no homes sold in the past 3 months here. Hopefully we can attribute that to the winter season where home sales always seem to dip a bit.

All in all- East View Heights Real Estate Market appears to be moving at a pretty good pace.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

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Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

Centennial Heights- Waunakee, WI Real Estate Market Report and Absorption Rate Trends

Centennial Heights Neighborhood in Waunakee, WI has a market that is a bit split. By most accounts it is a Seller's Market with between 2-4 months (depending on the period used) of Supply of Homes on the Market. Days on Market for Sold Homes is averaging around 52 days and homes have been recently getting around 96.5% of their first list price. 

Indicators pointing us the other way are the fact that no homes are currently under contract and the active homes have been there quite a bit longer than the average days for the sold. This could be because of the much higher price range that the currently active homes are sitting in more than anything else.

Even within one small neighborhood we can have more than one market going on at a time. 

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

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Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

North Ridge Estates- Waunakee, WI Real Estate Market Report and Absorption Rate Trends

North Ridge Estates Neighborhood in Waunakee, WI is currently in a Seller's Market with just over 5 Months Supply of Homes for sale. Sold homes are selling for an average of $350,000 and are getting around 93% of their original asking price. 

To the 3 active listings it probably doesn't feel much like a Seller's Market though as they have been for sale for an average of 350 days. With such a low number of listings any new homes that hit the market will push us over the 6 month mark and into what would be considered a Buyer's Market. 

This Spring it will be interesting to see if the new homes that are added to the market can be absorbed at a faster pace then the .58/month average that has happened over the last 12 months.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

Click Here to Search the Market 

Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

Glacier Crossing~The Crossing- Madison, WI Real Estate Market Report and Absorption Rate Trend

Glacier Crossing~The Crossing Neighborhood in Madison, WI is a Neighborhood that by most indicators appears to be in a Seller's Market. With under 5 Months of Supply of Homes on the Market, Average Days on Market for Sold homes well under 90 days, and active homes average time on the market being quite low as well things look pretty good.

A  couple of  indicators that are pointing the other way would be the length of time that Pending Homes (Homes under contract) are on the Market and the Absorption Rate Trend definitely trending down. 4.69 to 9.00 to 13.43 months on average is going the wrong way. Hopefully this has more to do with the time of the year and less to do with Sales that happened 8-12 months ago because of the Tax Credit for Home Buyers. 

Right now Glacier Crossing/The Crossing is in the midst of a Seller's Market but this is one Neighborhood to keep an eye on as we move through Spring.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

Click Here to Search the Market 

Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

Meadowbrook- Waunakee Neighborhood Real Estate Market Report and Absorption Rate Trend

Meadowbrook Neighborhood on Waunakee's southwestern edge is a market that is pretty entrenched in a buyer's market. With over 15 months of supply of homes on the market and 0 homes currently under contract things are pretty slow. 

Average Days on Market for sold homes in the last 12 months is sitting at 150 days. Homes here have been getting about 89% of original asking price and averaging around $106/sq ft. The 9 homes currently on the market have been sitting there for an average of 233 days.

Things will hopefully pick up here in the Spring for homeowners but for right now we are definitely stuck in the midst of a typical buyer's market.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

Click Here to Search the Market 

Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

Southbridge Neighborhood- Waunakee, WI Real Estate Market Report and Absorption Rate Trend

Southbridge Neighborhood on Waunakee's Southern Edge shows us a fairly active and balanced market. With 31 homes sold over the past year (2.58/month) and 15 homes currently on the market we get a Months of Supply on Market at 5.81. Remember that we are considering 6 months of supply a balanced market. 

Homes are getting around 95% of first list price and averaging 106 days on the market. The average sales price in the last 12 months was $465,000 and the average price per sq ft is holding steady at around $127.00.

The 4 homes under contract seem to fall in line with the sold's in terms of their numbers as well.

A well balanced market in a higher price range.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

Click Here to Search the Market 

Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

Oak Meadow- Fitchburg, WI Real Estate Market Report and Absorption Rate Trend

Oak Meadow- Fitchburg, WI Neighborhood Real Estate shows us a Buyer's Market with a little bit of activity. With 13 homes currently active on the market and 1.25 homes sold on average per month over the last year the Months of Supply stands at 10.4. Homes are getting around 92-93% of original asking price which is not too bad in this price range. Average Days on Market is fairly high at around 200 days.

Having 2 homes currently under contract is a good sign though the average list price on the active homes at almost $416,000 and $148 per sq ft is definitely higher than for the homes sold in the past year. This may make for even slower sales this Spring.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

Click Here to Search the Market 

Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com

Cross Country Heights- Verona, WI Neighborhood Real Estate Market Report and Absorption Rate Trend

Cross Country Heights Neighborhood in Verona, WI appears to be currently a seller's market- at least looking at the 12 month sales history of .92 homes sold per month compared to the 4 active listings. This puts the months of supply on market at just over 4.

The pace of homes selling in this market slowed over the past 6 months which is not totally uncommon for the time of year but something to definitely keep an eye out on this spring. With no homes currently under market these numbers could shift towards more of a balanced market fairly quickly.

The average days on market is starting to creep up but is still not too bad considering the price range. Homes are getting about 93% of their original asking price which is also not too bad.

Right now a sellers market...possibly soon a balanced market...but definitely one to keep an eye out for as we move into Spring/Summer.

John & Vicky Schroeder -Restaino & Associates REALTORS®

Homes@HomesByJV.com

www.twitter.com/HowsTheMarket

Click Here to Search the Market 

Need to take a closer look at your particular location? Than visit us at www.HomeValuesInMadison.com