Madison, WI - Local Housing Data - Summary

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Madison, WI Local News

  • Living Near Green and Well-Being

    Fast Company's Ben Schiller reports on University of Wisconsin-Madison research that asserts that green space puts people in a better mental state, with significant and sizable health effects.

  • Living Near Green and Well-Being

    Fast Company's Ben Schiller reports on University of Wisconsin-Madison research that asserts that green space puts people in a better mental state, with significant and sizable health effects.

  • Madison, WI - November 2013 - New Home Closings Figures Signal Market Rise Strengthening

    New home sales rose in Madison, WI in November. Mortgage amounts on new homes dropped 5.7%. The percentage of new home closings belonging to single family homes rose, climbing 5.5% percentage points. Average prices of new and existing homes moved up, rising 12.2%. Foreclosures as a percentage of...

Newest Figures Show New Home Sales and Prices Rise in Madison

Posted on: Apr 06, 2014 07:25:31 AM

The Madison, WI market saw a rise in new home closings in December year-over-year, but with an increase less steep than that of November 2013, the market seemed to be showing signs of stabilizing. New home closings saw a climb of 33.3% from the year earlier to 56. This was after the housing market saw a 57.1% boost year-over-year in November.

A total of 764 new homes were sold during the 12 months that ended in December, up from 750 for the year that ended in November.

As a percentage of overall housing closings, new home closings accounted for 8.7%. This is better than the 5.8% of closings a year earlier. Closings of new and existing homes slid year-over-year in December after also falling in November year-over-year.

Pricing and Mortgage Trends

Average price of newly sold homes saw a 25.4% boost year-over-year in December to $293,042 per unit. This bump is higher than the 2.0% surge in November year-over-year.

For newly sold homes, the average mortgage size increased year-over-year along with new home prices. The average mortgage size rose to $238,791 in December, marking a 17.5% gain compared with a year earlier. In November 2013, average mortgage size on newly sold homes saw a 5.7% drop from a year earlier.

 
 
 

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