The following includes statistics and trends for the years 2000 through 2007 for the Verona condo market. Please visit our condo snapshot for updates on the Verona condo market throughout the 2008 year.
The median sales price for a Verona condo peaked in 2005 at $178,900. The median price in 2007 was $165,500.
Sold and Expired Listings
Verona condo sales peaked in 2002 with 80 closings. Verona condo expired listings grew from 28 in 2005 to 76 in 2007, as the market shifted.
Listing Success Rate
The listing success rate for Verona condos ranged between 71% and 85% from 2001 to 2005. The success rate decreased in 2006 and again in 2007, dipping to 38%. The 2007 success rate for all of Dane County was 40%.
Days on Market
The Verona average days on market for condo listings that sold was 90 days in 2007, compared to 146 days for all of Dane County. The average days on market for condo listings that expired was 174 days, compared to 241 days for all of Dane County.
Note: the spike in 2005 in the days on market for expired listings was due to a large block of condo listings that expired after having been on the market for two years.
Total Days on Market Experience
The total days on market experience for Verona condos grew to 371 days (12.2 months) in 2007, compared to 502 days (16.5 months) for all of Dane County.
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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