Back HomeVerona Home Sales Statistics – May 2016
June 11th, 2016 by keithandkinseyIn May Verona single family home sales jumped to 23. That’s more than April, but still doesn’t outdo May 2015. Although, 35 homes are currently under contract, so maybe we can expect a few more closings in June.
Average prices were up to $339,719. This is 9.3% higher than last year.
A couple of interesting statistics are the sale price vs list price ratio, and the days on market. The sale price had been fairly steady around 98% or 99% of list price, but in May it dropped to 96.7%. The number of days houses were on the market jumped to 78. My theory is with a hot sellers market, sellers are starting to get a little greedy, and they are overpricing homes. The overpriced houses aren’t moving as fast, and are going for a lower percentage of asking price. We have seen an increase in the number of appraisals coming in low too, which also tells us some houses are priced too high.
Housing inventory in Verona has also jumped to 4.1 months. This is still in the seller’s favor, but a little more neutral than things had been in previous months. Don’t get me wrong, if you price a house properly, prepare it well, and use good marketing strategies, it will still sell in a mater of days often at are above asking price, just don’t get greedy and start too high, the results could be worse in the end.
Verona, WI May 2016 Home Sales Summary
Verona, WI May 2016 Home Sales By Neighborhood
If the neighborhood you live in is not on this list, sorry. We chose the 13 most active neighborhoods in Verona over the last year. We also do a lot of work in Middleton, Mount Horeb, Oregon, Belleville and Madison. We’d be happy to dig up information on your neighborhood when you contact us directly.
