2017 Verona Summer Home Sales Statistics
Home sales in Verona have been strong through the summer, up 29% over last summer. This is interesting; considering the number of sales in Dane county is actually down compared to last year. I would guess this is primarily due to a higher volume of construction in Verona as compared to many other areas of Dane county.
The average sale price was up only 2% over last year. Although, I don’t think this is a true reflection of prices. I think there was just a lower volume of high priced home sales this summer, for example Scenic Ridge only had one home closed over the Summer season. In reality values seem to be up 5%-7% when looking at similar homes this summer as compared to 2016. This is right on par with the county average of a 7% increase in house sales prices.
While the market has certainly calmed some (a little less competition among buyers). Most properly priced well prepped homes are still getting offers quickly. Inventory continues to remain very low at 2.1 months, which means it is still a sellers market.
The most active neighborhood in Verona was still Cathedral Point with all the new construction. Cross Country Heights, Hawthorne Hills and East View Heights all had a significant number of homes that sold too. Two new subdivisions, Hometown Grove and Kettle Creek North are now under way. It will be interesting to see what kind of traction they get.
We recently put an investment property under contract in Verona, so I’ll continue to watch Verona stats closely. I’m trying to predict the future and figure out if I should flip it, or hold it as a rental. I think it’s likely the market will calm and level out a bit, but I think we’ll continue with a more moderate but steady growth in prices. With a new high school in the plans and several commercial developments in the works, I think Verona will continue to have a strong real estate market, low inventory, and high demand.
Verona, WI Summer 2017 Home Sales Summary
Verona, WI Summer 2017 Home Sales By Neighborhood
If the neighborhood you live in is not on this list, sorry. We chose the 13 most active neighborhoods in Verona over the last year. We also do a lot of work in Middleton, Mount Horeb, Oregon, Belleville and Madison. We’d be happy to dig up information on your neighborhood when you contact us directly.