Today I have Madison’s April 2018 market update for you.
There were 389 homes sold in the Madison market with an average sale price of $298,000. These homes spent an average of 36 days on the market.
During the same time last year, we also saw 389 homes sold in April. The average price back then was a little lower at $291,000, and the average days on market was higher at 47.
So, the average home value is up 2.5% in Madison.
In nearby Sun Prairie, there were 55 home sales with an average sale price of $285,000. Homes there spent an average of 38 days on the market this year.
Last year in Sun Prairie, there were 57 homes sold in April with an average sale price of $272,000. Homes spent more time on the market in Sun Prairie last year, with average days on the market of 47 days.
“The DeForest and Windsor area saw the largest increase in price at 17%.”
So, the average sale price in Sun Prairie for April 2018 is up 5% from the previous year.
In the DeForest and Windsor area, April 2018 saw 36 homes sales with an average sale price of $341,000. Homes in this area spent an average of 68 days on the market.
Comparing that to last year, there were only 27 homes sold in the DeForest and Windsor area, with a much lower average sale price of $283,000. Homes in this area spent an average of 73 days on the market.
The biggest jump in price was the DeForest and Windsor area, increasing by 17% from last year. I believe that this is due to new construction sales going down and home values going up.
If you have any questions about specific neighborhoods or are interested in buying or selling, please feel free to reach out to me. I would love to speak with you soon.