Madison, WI - Local Housing Data - Summary

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Madison, WI

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Madison, WI Local News

  • Top 25 New-Home Price Hikes in 2014

    Where in the nation are new-home prices on fire? Here, BUILDER looks at the top 25 markets racing away from affordability.

  • Top 10 Markets Attracting Millennial Buyers

    Millennials are far from the leading new-home buyer demographic in big markets, but some smaller markets are showing strength in attracting young buyers. Here, BUILDER ranks the top 10 markets successfully selling more homes to Gen Y.

  • Madison, WI - February 2014 - New Home Closings Figures Signal Market Drop is Slowing

    New home sales fell in Madison, WI in February. Average prices of new homes moved up, rising 40.1%. The percentage of new home closings belonging to single family homes rose, climbing 13.8% percentage points. The percentage of new home closings belonging to attached homes dropped, falling 13.8%...

Prices of New Homes Rise in Madison, Sales Decrease According to Recent Data

Posted on: Jul 06, 2014 07:22:30 AM

In March, there was a decline year-over-year in new home closings in the Madison, WI market, and there were suggestions of weakening market conditions with a percentage fall steeper than that of February 2014. New home closings saw a drop of 16.1% from the year earlier to 47. This was after the housing market saw a 6.7% drop year-over-year in February.

A total of 763 new homes were sold during the 12 months that ended in March, down from 772 for the year that ended in February.

As a percentage of total closings, new home closings represented 6.8%, unchanged from a year ago. Following a year-over-year decline in February, closings of new and existing homes also declined year-over-year in March.

Pricing and Mortgage Trends

The average per-unit price of newly sold homes increased year-over-year to $311,147 in March, up 31.9% from last year. This bump is smaller than the 40.1% surge in February year-over-year.

Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. The average mortgage size rose to $255,240 in March, marking a 18.8% lift compared with a year earlier. Average mortgage size rose 39.9% in February 2014 from a year earlier.


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