Middleton Cross Plains Area School District Real Estate Market Report | T.R. McKenzie Apartments (original) (raw)

Middleton Cross Plains Area School District Real Estate Market Report

August 2024

As summer come to an end and the school year picks up, let’s take a look at the Middleton Cross Plains School District real estate market. Middleton, often called the “Good Neighbor City,” is a vibrant and welcoming community that appeals to new home buyers for many reasons. Nestled just outside Madison, Middleton offers the perfect balance between small-town charm and urban convenience. The city boasts top-rated schools, beautiful parks, and a strong sense of community, making it an ideal place to raise a family. With a thriving local economy, diverse dining options, and easy access to outdoor recreational activities, Middleton provides a high quality of life. Its safe neighborhoods and well-maintained public spaces further enhance its appeal, making it a sought-after destination for those looking to settle down in a friendly, dynamic environment.

The Takeaway: Low availability of homes for sale has been a common theme the last few years coming out of the pandemic. The Middleton/Cross Plains Area School District (MCPASD) is no exception. To date in 2024 there have been 256 homes sold in the school district. Although we are on track to surpass sales in 2023 (estimated 384 homes will be sold in 2024 in the MCPASD), we have a ways to go in order to catch back up to 2020 & 2021.

The Takeaway: The sale price of homes in the MCPASD have seen a 35k increase since 2020. Prices have remained elevated but have cooled off a bit since 2022. Buyers waiting for the “perfect interest rate” may want to consider how long they will be in the home prior to making the decision to wait. In some cases it will take 5-10 years before you begin to see the cost savings of a lower interest rate compared to the purchase price.

When interest rates inevitably tick downward, we also want to keep in mind the upward pressure on home sale prices as more and more buyers enter the market due to favorable rates.

The amount of time a home in the MCPASD is listed for sale has been right around a week since 2020. This is a trend we will more than likely see for years to come. With properties moving off the market in as little as 7 days, it is important to surround yourself with a realtor/brokerage that you not only trust, but who can also keep up with the market and put YOU as the client in the best position possible to be successful.

Data provided by the SCWMLS as of 8/20/24

Many prospective home buyers are looking to new construction as an option to get around the bidding wars on existing homes. Check out our previous blog on new construction for the pros, cons, and items to consider when contemplating a new build.

Below are a few projects in the MCPASD that are underway as we speak.

Helping buyers navigate the current markets what we are here for. Contact us at the link below and we will follow up to help answer all your questions and steer you towards your goals.

Want more info? CONTACT US at realestate@trmckenzie.com or SUBSCRIBE HERE.