Info on the Verona real estate Days on Market from January ‘07 – September ‘07

Verona real estate days on market for single family has been on a decrease as of late. Single family days on market is less then when the year started and has shown some consistency, unlike condos in the Verona. From May thru August though the Verona real estate market for condos looked pretty hot. Days on market as low as 25 but only has high as 64.

Visit The Gardyn for info on the overall Dane County real estate days on market.

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Edyn Real Estate closed on #427 Cross Country Rd.

Last week a new buyer gets to call #427 Cross Country home, in the Heritage Woods condo development in Verona, Wisconsin. We put this property through our Marketing Plan to try to get maximum exposure for our Seller.

With three other condos for sale in the Heritage Woods development we had to make this be a good property in this market,

• The market for good properties

The good properties are priced right, offer great terms, in excellent condition and staged well. These good properties always have lots of activity and these good properties sell.  The home looker can’t wait on these because a home buyer will buy. Days On Market is dropping in Dane County.

You still interested in a condo in Heritage Woods? Or any condo in Verona?

Search For Your Next Condo Here

Looking at the Verona real estate market activity since June 1st, 2007

What is the holding inventory or absorption rate in Verona? How long would it take to sell a home?

How we calculate that data is:

• How many homes are selling in a month?
• Based on the current active inventory, how long would it take to sell?

So the average home sales in Verona is 11.6 a month.

• 35 total sales since June 1st.

There are 103 current active listings for sale in Verona. If we said no more listings are allowed to come on the market, with an average of 11.6 selling a month, it would take 8.9 months to absorb the existing inventory.

This means Verona is a balanced market.

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Why are homes taking so long to sell?

A rate cut was expected today, but the aggressive .50% rate in both the Federal Funds Rate and the Discount Rate surprised many, including myself.

The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, this is the first Fed rate cut in four years!

We wrote more about the rate cuts, the stock market and the housing market at our main blog, The Gardyn.

I have talked in past the housing market in Madison is slowing more on psychological reasons, instead of a fundamental reasons. This will probably help many buyers that are sitting on the fence start get more serious.

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Looking at the trending of the last five years of the Verona real estate market.

We looked at total number of single family homes that had been listed in Verona started at January 1st, 07 thru to today. We then looked at the total number of single family homes that had sold in Verona in that same time period.

The Verona single family residential market has been a steady-eddy. Solds are off pace, but listings and inventory has dropped also.