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Fitchburg Single Family Home Market TrendsFitchburg, WI Single Family Home Trends - July, 2017

Our Fitchburg, Wisconsin single family home market report provides an in depth review of the real estate market in MLS area W19 (city of Fitchburg). All raw data is sourced from the South Central Wisconsin MLS. All graphs, charts, statistics, and narrative are compiled by our real estate team to provide a reliable overview of the latest market conditions in Fitchburg. 

Note the city of Fitchburg participates in 3 different school districts. Depending on school assignment, market conditions can vary significantly from one neighborhood to the next. Give us a call at 608-852-7071 whenever you have questions about how the market is performing in your neighborhood.

Our July, 2017 Fitchburg market report follows. We update our report several times each year. Bookmark this page and check in often for regular market updates.

For our report on the Fitchburg condo market, click here.

Fitchburg WI Single Family Home Trends: July, 2017

  • Fitchburg home sales through the month of July are up slightly from this time last year, but they are being limited by a lack of supply. 
  • Accepted offers through July are also stagnant due to low inventory. 
  • Expired listings set a new annual record low in 2016. This is one of many indicators of a good seller's market in Fitchburg. 
  • The single family home listing expiration rate through the month of July is one of the lowest on record. Another sign of a great seller's market in Fitchburg. 
  • New listings are up from last year, but they are still entering the Fitchburg real estate market at a slow pace. Lower levels of new listings are helping sellers in a low inventory market. 
  • As of 8/8/2017, only 2.6 months of inventory are available in the Fitchburg single family home market. Inventory is especially low for homes priced below $350,000. Just over 27% of all single family listings have an accepted offer and are scheduled to close soon. 
  • Fitchburg single family home listings are selling quickly. The average days on market through the month of July is only 35 days - the lowest on record
  • Fitchburg home prices through the month of July are at record highs. 

Fitchburg Single Family Home Sales: July, 2017

Year-to-date, 155 homes have sold in Fitchburg, a slight increase from last year. Demand is strong, but home sales are currently being limited by a lack of supply. The latest inventory trends are covered later in this report. 

 

On an annual basis, 239 Fitchburg single family homes sold via the South Central Wisconsin MLS in 2016. As the graph below shows, Fitchburg 2016 home sales were the second highest since 2006. 

Fitchburg Single Family Accepted Offers: July, 2017

Year-to-date through the month of July, a total of 165 Fitchburg single family homes received an accepted offer. This year's total is limited by a low supply of single family homes. 

A total of 241 Fitchburg single family home listings received an accepted offer in 2016. This was the second highest accepted offer total dating back to 2007. 

Fitchburg Expired Single Family Listings: July, 2017

Year-to-date through July, a total of 33 Fitchburg single family home listings expired on the MLS. This is one of the lowest year-to-date totals on record. It is indicative of a much improved real estate market in Fitchburg. 

 

A total of 57 Fitchburg single family home listings expired in all of 2016. The 2016 expired listing volume was roughly one-quarter of the volume from the peak years of 2006, 2007, and 2008. 

Fitchburg Single Family Expiration Rate: July, 2017

The year-to-date Fitchburg single family home listing expiration rate through the month of July was 18% - the third lowest rate on record. This is another indication of a market that is favorable to sellers. 

 

The annual Fitchburg single family home listing expiration rate in 2016 was 19%. This is the lowest rate on record, far below the peak levels from 2007 and 2008, when over half of all single family home listings expired without selling. 

 

Fitchburg New Single Family Home Listings: July, 2017

New listings are entering the market at historically low levels. A total of 226 new single family home listings entered the Fitchburg real estate market year-to-date through the month of July

A total of 285 new single family home listings entered the Fitchburg real estate market in 2016. Low levels of fresh inventory have helped shape a market that is favorable to sellers.  

Fitchburg Single Family Home Months of Supply: 8/8/2017

The table below provides a great overview of how the Fitchburg real estate market varies by price range. The price ranges highlighted in yellow ($350,000 and under) have 2.8 months of supply or less. In addition, a large percentage (33.3%) of these single family home listings are under contract and scheduled to close soon. Right now the market is very strong for single family homes priced below $350,000. 

As of 8/8/2017 there are only 2.6 months of inventory available across the entire Fitchburg single family home market. This low level of supply is indicative of a good seller's market. 27% of all listings are currently under contract and schedule to close soon. 

Fitchburg Single Family Days on Market: July, 2017

The Fitchburg single family home year-to-date days on market through the month of July is 35 days. This is the lowest on record. We expect the days on market to maintain record lows through the end of the year.  

The average days on market for all of 2016 was only 47 days. This was the lowest days on market on record for the city of Fitchburg. 

Fitchburg Price Per Square Foot: July, 2017

The price per square foot is our best statistic for home values because it takes into account the size of each sold home. Year-to-date through July, the single family home price per square foot is $131, the record high in the city of Fitchburg. 

On an annual basis, the Fitchburg single family price per square foot in 2016 was $125. This was just below the record high of $127 from the peak years of 2005 and 2006. 

Fitchburg Average Home Price: July, 2017 

Year-to-date through July, the average Fitchburg single family home price is $342,453. This is a record high for the Fitchburg real estate market. Low supply and high demand are driving prices higher. 

 

The average Fitchburg home price for all of 2016 was $328,815. This annual average was a new high for the city of Fitchburg. 

For More on the Fitchburg, Wisconsin Real Estate Market

Get in touch with Dan Miller to discuss your home's market value and the conditions in your neighborhood. Dan's market analysis will help you establish an accurate price tag for your home.