Market Update – Listing Success Rate Condos

Listing Success Rate – June 2014

Monthly Trend – Dane County Condos

The Dane County condo listing success rate increased from 78.8% in June of 2013 to 81.1% in June of 2014. The listing success rate measures the number of listings that sell relative to the total number of sold and expired listings. A number greater than 50% means more listings are selling than expiring. A number less than 50% means more listings are expiring than selling.

The graph below shows the monthly listing success rate dating back to January, 2005. Each green data point represents an increase from the same month of the prior year. Each red data point represents a decrease.

Success rates have increased 32 of the last 37 months. Sellers tend to be more successful during the spring and summer months, and less successful during the fall and winter months.

Monthly condo listing success rate

Year-to-Date Trend – Dane County Condos

The year-to-date listing success rate for Dane County condos through the month of June was higher than the success rate through June of 2013. The success rate through June was 75.1%, compared to a success rate of 71.9% during the same time period in 2013.

Year to date condo listing success

Recent History – Condos

From the graph below you’ll see the listing success rate peaked in 2003 and 2004 – when roughly 3 out of every 4 condo listings resulted in a sale. The success rate decreased each of the following 4 years. In 2008, only 1 out of every 3 condo listings resulted in a sale. The success rate improved slightly in 2009, 2010 and 2011. In 2012, the success rate improved significantly by rising to 55%. The success rate in 2013 was the highest for any year since 2004.

Recent history condo listing success

 

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