The following luxury home market report covers the latest trends for Dane County luxury homes priced at $800,000 and above. Do you have questions about buying or selling a luxury home? Please contact us for a private consultation.
Our luxury home market report follows. Note our report covers single family homes only. We cover the luxury condo market in a separate report.
Luxury Home Months of Inventory - April 2012
We measure the luxury home months of inventory to gauge the demand for Dane County luxury homes relative to the current supply of homes available via the South Central Wisconsin MLS. This measure is based on the current number of active listings and the total sales volume from the preceding 12 months.
As of April 22nd, the Dane County luxury home months of inventory stood at 34.3 months, indicating a very strong buyers market. Note this inventory level is roughly 4 times the level of the Dane County single family home market as a whole, and roughly twice the level of the Dane County condo market as a whole.
Luxury Home Sold Listings - March 2012
Eight Dane County luxury home listings have sold year-to-date through the month of March, compared to 5 listings during the same time period in 2011.
The graph below shows the annual number of luxury home sales dating back to the year 2000. Luxury home sales peaked in 2006, when a total of 69 listing sold. Luxury home sales bottomed out in 2009, when a total of 21 listings sold. As the graph shows, the stock market crash in the Fall of 2008 had a significant impact on the Dane County luxury home market.
Luxury Home Expired Listings - March 2012
Twenty-four Dane County luxury home listings have expired year-to-date through the month of March, compared to 40 listings during the same time period in 2011.
The graph below shows the annual number of luxury home expired listings dating back to the year 2000. Expired listings peaked in 2007, when a total of 175 listings expired. Expired listings have decreased since that time, with a total of 122 listings expiring in 2011.
Luxury Home Listing Success Rate - March 2012
The Dane County luxury home listing success rate was 25% during the first quarter of the year, compared to 11% during the first quarter of 2011.
The following graph shows the annual listing success rate dating back to the year 2000. The success rate was highest from the years 2000 to 2005 and bottomed out in 2009 when the rate was only 14%. The success rate in 2011 was 25%.
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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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