Monthly Trend - Condos
The Madison area condo listing success rate increased from 35.2% in December of 2011 to 58.7% in December of 2012. The listing success rate measures the number of listings that sell relative to the total number of sold and expired listings. A number greater than 50% means more listings are selling than expiring. A number less than 50% means more listings are expiring than selling.
The graph below shows the monthly listing success rate dating back to January, 2005. Each green data point represents an increase from the same month of the prior year. Each red data point represents a decrease.
Success rates have increased 15 of the last 19 months. Sellers tend to be more successful during the spring and summer months, and less successful during the fall and winter months.
Year-to-Date Trend - Condos
The year-to-date listing success rate for Dane County condos through the month of December was higher than the success rate through December of 2011. The success rate through December was 54.8%, compared to a success rate of 41.2% during the same time period in 2011.
Recent History - Condos
From the graph below you’ll see the listing success rate peaked in 2003 and 2004 - when roughly 3 out of every 4 condo listings resulted in a sale. The success rate decreased each of the following 4 years. In 2008, only 1 out of every 3 condo listings resulted in a sale. The success rate improved slightly in 2009, 2010 and 2011. In 2012, the success rate improved significantly by rising to 55%. The success rate in 2012 was the highest for any year since 2005.
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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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