Monthly Trend - Condos
The December average days on market for listings that sold was 187 days, down from 333 days in December of 2011. The December average days on market for listings that expired was 238 days, down from 253 days in December of 2011. The graph below shows the days on market for sold listings dating back to the beginning of 2005. Each green data point represent a decrease in the days on market fom the same month of the prior year. Each red data point represents an increase.
The graph below shows the days on market for expired listings dating back to the beginning of 2005. The monthly year-over-year days on market for expired listings has been on an overall upward path (red) for most of the last 6 years. Due to the large degree of variability in the monthly numbers, it's always a good idea to view the year-to-date picture when assessing the days on market in any given month.
Year-to-Date Trend - Condos
The year-to-date average days on market for listings that sold was 189 days, down from 207 days in 2011. The year-to-date average days on market for listings that expired was 310 days, up from 286 days in 2011.
Recent History - Condos
From the graph below you’ll see the days on market for sold and expired listings have increased steadily over the past several years, but in 2012 condos sold more quickly.
The total days on market experience for the average Dane County condo seller increased greatly over the last several years before improving significantly in 2012. The number dipped in 2009 and 2010 due to the many first time buyers that purchased condos in the lowest price categories. Despite recent improvements, the total days on market experience remains historically high.
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This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact: Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.
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