Capital Neighborhood Market Statistics - September 2007, Madison, Wisconsin

With going back to school and other similar activities associated with September, its not surprising that September is one of the slowest months for home sales. While the numbers of listings have remained fairly consistent, the homes sales have dropped from 7 in August to only 1 in September. The condos sales have also dropped from 24 in August to 15 in September. With 4^th quarter starting off with some great drops in interest rates, the housing market is expected to pick up. Here are your statistics for the Capital Neighborhoods for the month of September:

Residential Homes Sales

Active Listings: 30

3 homes with accepted offers

Average Asking Price: $355,118

Average Price per Square Foot: $179

List Price Range: $1,500,000 (high) to $93,900 (low)

2 Pending Sale averaging $482,450

September 2007 Sales: 1 Sale

Asking Price: $180,000

Sold Price: $175,000

Average days on market: 141

Condominiums:

Active Listings: 257

21 under contract

Average Asking Price: $438,156

Average Price per Square Foot: $293

List Price Range: $2,750,000 (high) to $99,900 (low)

3 Pending Sale at average of $353,256

September 2007 Sales: 15 Sales

Average List Price: $229,540

Average Sold Price: $222,093

Average List Price per Square Foot: $263

Average Price per Square Foot: $258

Sold Price Range: $415,000 (high) to $133,000 (low)

Average days on market: 131

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