Wisdom and South Central Wisconsin Real Estate information

Posts tagged ‘market search’

Lake Koshkonong- Newville area Water Front home Market

Sunset 1-14-06 001

Sunset 1-14-06 001 (Photo credit: Jibby7)

The market search was expanded to neighboring areas along lake Koshkonong, the connecting Rock river, and Clear lake. Property values in the area have stabilized over the last couple of years. Sales started out slow and picked up toward the end of summer and have been non existent over the winter. There is 41 months of inventory of water front 1 story homes between 800 and 2,000 sq. ft.. The average list price is $295,090 and the median list price is $297,000.  The average sale price is $295,00 and the median sale price is $207,500. Very competitively priced homes and discounted properties are selling the quickest. Current interest rates have minimized buydowns and concessions and most homes in the area sell with conventional financing. Market exposure time for the subject as derived from the MLS and historical data is estimated to be 3 to 6 months, with discounted homes selling quicker. There is a 3% chance of a selling a home in the 1st month.

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