Westmoreland Neighborhood Market Statistics - 10/2007 Madison, WI

While the media may be portraying the housing market in Madison as all doom and gloom, statistics are showing something quite different. While existing home sales in the 2^nd and 3^rd quarters of 2007 are down from 2006, according to the Wisconsin Realtors Association they are the 3^rd highest on record. Median sale price on homes have also increased steadily over the past 10 years as well. According to the National Association of Realtors, the 4^th quarter of 2007 is projected to be the largest quarter for the year. With interest rates dropping below 6.375%, they will help the softened market gain momentum. In the Westmoreland Neighborhood, the average days on market are some of the lowest for Madison. As for the Westmoreland Neighborhood, statistics are showing the following:

Residential Homes Sales

Active Listings: 6

1 home with an accepted offer

Average List Price: $263,250

3 Pending Sales averaging $207,633

September 2007 Sales: 2 Sales

Average List Price: $254,000

Average Sold Price: $249,500

Average days on market: 11

3^rd Quarter 2007 Sales: 12 Sales

Average List Price: $244,725 ($158/sq foot)

Average Sold Price: $238,233 ($154/sq ft)