Market Report- Days on Market (homes)

Days on Market – July 2014

Monthly Trend – Dane County Single family homes

The July average days on market for listings that sold was 54 days, down from 55 days in July of 2013. The July average days on market for listings that expired was 162 days, down from 168 days in July of 2013.

The graph below shows the days on market for sold Dane County listings dating back to the beginning of 2005. Each red data point represents an increase in the days on market from the same month of the prior year. Each green data point represents a decrease. Days on market for sold listings in the Madison area have been trending lower for the past two years.

Note the seasonality in days on market. Listings tend to sell more quickly in the spring and summer, and more slowly in the fall and winter.

Dane County Days on Market By Month

The graph below shows the days on market for expired Dane County listings dating back to the beginning of 2005. Each red data point represents an increase in the days on market from the same month of the prior year. Each green data point represents a decrease.

Days on market for expired listings

Year-to-Date Trend – Madison Area Single Family Homes

The year-to-date average days on market for Madison area listings that sold was 65 days, down from the average of 73 days on market last last year. The year-to-date average days on market for listings that expired was 185 days, up from 181 days in 2013.

Year to date trend (sold and expired)

Recent History – Single Family Homes

From the graph below you’ll see the days on market for sold and expired listings increased significantly from 2004 to 2011, but that trend reversed in 2012 and 2013.

days on market for sold and expired listings (2011-2014)

Recent History – Total Days on Market Experience

The total days on market experience improved tremendously in 2012 and 2013. This measure approximates the average amount of time it takes to sell a home, by taking into account the listing success rate, the days on market for sold listings, and the days on market for expired listings. The 2013 total days on market experience was the lowest since 2005.

Recent History - Total Days on Market Experience