August 2009

Found 3 blog entries for August 2009.


ABC News Good Morning America recently named Madison, WI one of the top 10 places in the country to buy a home. The following statistical data was provided as positives for the Madison WI housing market:

  • Median Home Value: $207,600, down 4% from a year ago.
  • Property values are flat compared with five years ago.
  • Houses cost an average of $113 per square foot.
  • Buyers are paying 3% less than listing price.

As always, such statistics have to be taken with a grain of salt as they are based on a very broad area (in recent years Madison has been expanding in several directions at a rapid clip). It is also important to note that Madison, WI is comprised of a wide diversity of different neighborhoods, North, South, East, West, and downtown,

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East Side Sales Comparison Jan to July 2009 vs 2008Yesterday I discussed how home sales were up a respectable 12.63% in July 2009 vs July 2008 on the West Side of Madison after six straight months of year-over-year declines. The question I posed was whether this signals a turnaround for the housing market on the West Side of Madison? The jury may still be out on the West Side but a clearer picture could be emerging for Madison's East Side where sales of single family homes have been up for not one but two consecutive months. After five straight months of year-over-year declines ranging from 7.35% to a whopping 35%, sales of single-family homes on Madison's East Side were up 3.05% and 29.63% in June and July 2009, respectively, compared to June and July 2008 (see chart below). Could a turnaround in the

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January to July 2009 vs January to July 2008

After sales plummeted each month from 4.1% to 27.62% during January-June 2009 compared to the same period in 2008, sales of single family homes on Madison's West Side rose a respectable 12.63% in July 2009 compared to July 2008 (see chart below). Could this be the beginning of a turnaround in the Madison West Side housing market?

 

Other highlights:

  • The volume of homes sold on the West Side of Madison from January-July 2009 was down 7.67% (to 819) vs the same period in 2008.
  • The average price of a West Side Madison home was down 8.64% (to $274,097) from January-July 2009 vs the same period in 2008, making West Side homes more affordable.
  • The volume of listings was down 11.55% (to 1,547) from January-July 2009 vs the same period in 2008,
1,718 Views, 3 Comments