Verona Home Sales Statistics – July 2015
July home sales in Verona appear a bit strange looking at the statistics. The median price is down, the sale price to list price ratio is down, and home sales are down, but the market is on fire with the average house only lasting 11 days on the market prior to an accepted offer! Well, I think the price numbers are a little deceiving.
Normally we look at Median sale price rather than average, because a really big sale or a really low sale can throw off the average. However, in July the actual average sale price was $315,638. There were some big ticket sales that brought the average up. However, the bulk of the homes that sold in July were closer to the bottom of the Verona market, making the Median price look lower. If you compared equal house this year to equal house last year, I would say the prices are still up considerably.
The sale price to list price ratio was at 96.2% which is odd considering last month it was 101.2%. Does this mean sellers are getting greedy trying to take advantage of the hot market and overpricing homes again?
With 219 Verona house sales in the last year and 59 active listings right now, there is currently 3.2 months of inventory (4 months or less is generally considered a sellers market).
Cathedral Point remains the most active neighborhood with all the construction going on and 4 houses closed there in July, and the runner up was Cross Country Heights with 3 July closings. Cathedral Point is showing that homes have been on the market for 0 days, but that’s because all the sales in July were new construction homes that had a buyer prior to construction completion. So we’ll call Sokoloski and East View the fastest selling Verona neighborhoods of July.
Verona, WI July Home Sales Summary
Verona, WI July 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’d be happy to dig up information on your neighborhood if you contact us directly. If you live in surrounding areas such as Madison, Middleton, Oregon, Mount Horeb, etc feel free to contact us if you’d like some info on your particular house or neighborhood (we do lots of work in those areas too).