Verona Home Sales Statistics – May 2017
It’s been a crazy Spring in the South Central Wisconsin real estate market. In Verona, there have actually been fewer home sales as compared to last May, but the number of days on market is down from 62 to 8! Both stats are a result of lower inventory. Inventory is at 2.9 months which is down from last year although slightly higher than the previous two months. Sale prices in Verona are up about 5% over the same time period last year, and the sale price to list price ratio is an incredible 99.4%
Most properly priced well prepped homes are getting offers quickly, getting multiple offers, and many are selling for above asking price. The fastest selling properties with the most competition is undoubtedly the starter home price range. The $400,000+ price range is moving a little bit slower, but that is typically the case.
All these stats show an extremely hot seller’s market. Although, sales stats are lagging a month or two behind the activity. Most of the closings that occurred in May went under contract in March or April. Current buyer activity, while still strong, does seem to have calmed slightly from what it was a month or two ago. It seems like buyers are pulling back on their urgency, and many aren’t wanting to compete. My prediction is that two months from now, the sale price to list price ratio dips a little and the days on market creeps up.
The most active neighborhoods in Verona continue to be Cathedral Point’s new construction and East View Heights. Amazingly East View currently has 9 homes under contract.
Verona, WI May 2017 Home Sales Summary
Verona, WI May 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 dir