Monthly Trend - Condos
December 2012 Madison area sales increased from the sales volume registered in December of 2011. The number of expired listings decreased. A total of 84 Dane County condos sold in December compared to 63 condos in December of 2011 - an increase of 33.3%. Meanwhile, 59 condo listings expired in September, compared to 116 in December of 2011 - a decrease of 49.1%.
The graph below shows monthly sales volume dating back to January, 2005. Each green data point represents a volume increase from the same month of the prior year. Each red data point represents a volume decrease. December was the 9th straight month to register a year-over-year increase in condo sales, and the 14th in the last 18. Note the seasonality in sales volume. Similar to single family homes, roughly 75% of all condo sales occur during the months that span from March to September.
The following graph shows the monthly expired listing volume dating back to January, 2005. Each green data point represents an expired listing volume decrease from the same month of the prior year. Each red data point represents an expired volume increase. Expired condo listings have decreased 20 of the last 23 months. This is because there are fewer active listings compared to a year ago, and condo sales are increasing.
Year-to-Date Trend - Condos
Year-to-date Dane County condo sales volume through the month of December increased by 30.1% from the sales volume levels of 2011, while the number of expired listings decreased by 23.6%. A total of 1,229 Dane County condos sold through the month of December compared to 945 during the same time period in 2011. A total of 1,012 condo listings expired through the month of December compared to 1,325 in 2011.
Recent History - Condos
From the graph below you’ll see condo sales volume peaked in 2005, while expired listing volume peaked in 2008. Condo sales increased significantly in 2012 after decreasing for 6 straight years. Expired condo listings have decreased each of the last 4 years.
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This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact: 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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