After sales plummeted each month from 4.1% to 27.62% during January-June 2009 compared to the same period in 2008, sales of single family homes on Madison's West Side rose a respectable 12.63% in July 2009 compared to July 2008 (see chart below). Could this be the beginning of a turnaround in the Madison West Side housing market?
- The volume of homes sold on the West Side of Madison from January-July 2009 was down 7.67% (to 819) vs the same period in 2008.
- The average price of a West Side Madison home was down 8.64% (to $274,097) from January-July 2009 vs the same period in 2008, making West Side homes more affordable.
- The volume of listings was down 11.55% (to 1,547) from January-July 2009 vs the same period in 2008, helping to constrain supply.
- DOM (Days On Market) remained virtually unchanged from January-July 2009 vs the same period in 2008 (79 days vs 74 days), proving that Madison West Side homes are still in demand even if fewer people are in a position to purchase one.
For more information about West Side Madison homes for sale or for a FREE market analysis of your West Side Madison home, please contact Lake & City Homes broker|owner Jolenta Averill at 608.230.5553. We'll help you make sense of the housing market, regardless of prevailing market conditions.