The month of April was a good one in the Madison real estate market. The 30 year fixed rate mortgage rates remained low ranging between 5.8% and 6.1%, there was plentiful invenory available for Madison area buyers to select from, and many buyers and sellers were able to come together in real estate transactions.
Madison – Single Family Homes
There was a healthy number of single family home sales in Madison through out the month of April. We saw 158 sales representing about 42% of the total available inventory. The average list price was $290,146, while the average sold price was $259,702. The average days on market has come down to 82 for Madison single family homes. (The average days on market in the first quarter of this year was 95.)
Madison – Condominiums
The Madison condo market moved at a bit slower pace in the month of April when compared to the single family properties. We saw 57 condos sell representing about 22% of the total available inventory. The average list price was $232,368, while the average sold price was $197,995. The average days on market has increased to 159 days for Madison condos. (The average days on market in the first quarter of this year was 133 days.)