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, some of which have declined in value and others which have held steady or increased in value in recent years.
Reasons cited for Madison's attractiveness were not only its cheap home prices but its strong job market, stable housing values, and the twin factors that, as a state capital and college town, Madison is more "recession-proof" than other cities.
The complete list of finalists included:
- Virginia Beach, VA
- Albany, NY
- San Diego, CA
- Austin, TX
- Madison, WI
- Greenville, SC
- Gainesville, FL
- Knoxville, TN
- Richmond, VA
- Flagstaff, AZ
Thinking of buying a home in Madison, WI or one of its surrounding communities? Click here to search for Madison, WI real estate or another community in Dane County (many, such as Middleton, Fitchburg, Verona, and Monona are within a 15-minute drive of Madison). For a complete list of all the awards won by Madison WI since 1994, please visit our Madison awards page.
Source: The Top Ten Places to Buy a Home, ABC News Good Morning America (August, 2009)
Posted by Jolenta Averill on
Jolenta, I've always loved what the Madison area has to offer. I love downtown, the campus, the shopping, and great food.
Posted by Robert Worthington on Tuesday, August 18th, 2009 at 10:46amCongratulations on the recognition!
Posted by Cary NC Real Estate on Friday, August 21st, 2009 at 7:02pmI see Austin and Madison are side by side. Both are large college towns and state capitals. Both also have nice lakes. Congrats to both cities.
Posted by Austin Homes on Tuesday, September 1st, 2009 at 3:22pmWow congrats on being named the top 10 places to buy a home. Hopefully that will help pick up some sales in your area and turn things around for you guys.
Posted by Cedar City Realtor on Wednesday, September 9th, 2009 at 8:29amLeave A Comment