Real Estate In Madison

With the recent economic downturn in the U.S., many new homeowners are finding golden opportunities to buy up foreclosed properties around the country for much less than they would have paid this time last year. Everyone from Seattle dock workers to Oakville dentists have been snatching up nearby properties that sit at some of the lowest prices in decades. Not so in Madison, Wisconsin. So what makes Madison so different from everywhere else?

While the rest of the country suffers from sinking average listing prices on real estate properties and a rising number of foreclosures, Madison finds itself at the opposite side of the spectrum. At just under $254,000, listing prices in Madison have shown slight increases over the last few months. Even more surprising, the average price per square foot has risen to $248, an increase of 78% from last year. Even a Cabbagetown real estate agent will tell you those are pretty surprising numbers when compared to the rest of the country.

Much of the difference to the rest of the country lies in the city's reputation. Over the last ten years, Madison has been named one of the safest places in America to live, one of the best cities to start a business or career, and has kept one of the country's lowest percentages of unemployment. All this means that homeowners have a great amount of security in Madison, which equals out to higher home values, a lower number of foreclosures, and demand for property from outsiders wanting in.

Though any Toronto estate agent would describe this as a seller's market, there is still some upside for those looking to buy in Madison. First, though the average selling price today is higher than it was last year, it is on a decline at the moment. The more important factor is that when compared to surrounding cities such as Cottage Grove, Middleton, and Waunakee, Madison still has a much lower selling price, anywhere from $20,000 to $180,000 less.

Though Madison homebuyers may not save the amount of money that buyers snatching up foreclosed properties do, they do have one distinct advantage. Where foreclosed sellers tend to stay firm on selling price, established home sellers will be more open to negotiation when it comes to the selling price. What this means is that though you might not be able to afford the best nanny Calgary has to offer when all is said and done, you'll still have a little extra cushion in your back pocket.

At the end of the day, Madison is a great investment for buyers and for sellers. Showing both stability and resiliency in times of great economic stress, Madison offers peace of mind and financial security for the men, women, and children who call it home. Like most Milton Ontario homes, you know you're on sure ground when you own a piece of Madison, Wisconsin real estate.