Monday, January 5, 2015 / by Jen Koenig
2014 was a fantastic year for Real Estate in the South Central Wisconsin market. As we talked about in a previous blog, property values increased significantly in many of the Madison neighborhoods, some as much as 8%! So of course it's no surprise we saw a leap in market activity. According to the South Central Wisconsin Multiple Listing System, we had 17,104 sales in the area in 2014. That's over 2000 more homes sold than in 2012. Area homes sold for more, with sales averaging $186,297 in 2014 vs. only $170,889 in 2012. Homes sold for $95.63% of the asking price on average this past year, vs only 94% in 2012. All of this added up to a total of more than $3.2 billion in regional sales this year, a $600 million increase over just 2 years ago.
The Huemmer Home Team hit a total of 100 homes sold this year with more than $25 million in sales, and 2015 is shaping up to be our biggest year ever!
It's been predicted that 2015 will be a strong year for the market. Several sources believe interest rates will be rising as we move through the year, so it may be advisable to start the home buying process sooner rather than later. Below is a link to an article from Realtor.com giving more market trend predictions, including...