Monthly Trend - Madison Area Single family homes
The September average days on market for listings that sold was 56 days, down from 80 days in September of 2012. The September average days on market for listings that expired was 184 days, down from 195 days in September of 2012.
The graph below shows the days on market for sold Dane County listings dating back to the beginning of 2005. Each red data point represents an increase in the days on market from the same month of the prior year. Each green data point represents a decrease. Days on market for sold listings in the Madison area have been trending lower in 2013.
Note the seasonality in days on market. Listings tend to sell more quickly in the spring and summer, and more slowly in the fall and winter.
The graph below shows the days on market for expired Dane County listings dating back to the beginning of 2005. Each red data point represents an increase in the days on market from the same month of the prior year. Each green data point represents a decrease. The days on market for expired Madison area listings have also decreased significantly in 2013, indicating improved seller and broker confidence in the market.
Year-to-Date Trend - Madison Area Single Family Homes
The year-to-date average days on market for Madison area listings that sold was 70 days, down from the average of 91 days on market last last year. The year-to-date average days on market for listings that expired was 189 days, down from 198 days in 2012.
Recent History - Single Family Homes
From the graph below you’ll see the days on market for sold and expired listings have increased significantly from 2004 to 2011, but that trend started to reverse in 2012.
Recent History - Total Days on Market Experience
The total days on market eperience improved tremendously in 2012. This measure approximates the average amount of time it takes to sell a home, by taking into account the listing success rate, the days on market for sold listings, and the days on market for expired listings. The 2012 total days on market experience was the lowest since 2006.
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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:
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