There was a time when it seemed any home in Blackhawk had a buyer as soon as the house hit the market. For us Realtors who provided relocation services to Madison area employers, getting a home for your client was a race to the finish. All that seemed to change a few years ago when the prices peaked at the same time buyers vanished. In 2009-10 we were helping people rent Blackhawk homes. We saw the activity begin to pick up late last year and decisions to buy are turning into commitments this spring.
Fifteen homes will close between the middle of December and the end of July it appears. There have been six closings already and another nine homes have offers pending. That's a big load of the higher end inventory in Middleton and good news for people who have yet to put their home on the market. I don't think all of the buyers have made commitments by any means. (But be cautious--some of the buyers are committed to tremendous value and they aren't about to buy above the bottom price---).
The only thing stopping home owners from selling is--well, the home owner themselves. On average, owners are selling for 10% less than their initial asking price and they are patient. About 180 days (5 months) go by before the owners get their price in line with the expectations of the buyers. After that, the owners are negotitating acceptable offers in less than 50 days. Sales prices are 96% of last asking prices and that's pretty fine even in the sizzling market of 2005.
If you're moving from Blackhawk, be aware your buyer can not be fooled. They see everything from Fitchburg to Verona, to SW Madison, to west Dane, to Waunakee. They know the prices, the values, and they are inspired to get a price they can write home about. Buyers, are wise to know that owners in Blackhawk know what you know too--there is only one Blackhawk. Price of admission is still going to be a little more than you might have expected.
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