Here are the figures for Wisconsin and South Central Wisconsin which includes Madison and Dane County. (Source WRA)
Wisconsin, Median Price: Feb 2011 $117K 2010 $135K -13.3%
South Central (incl Madison) $124 .9K $145K -17.2%
Over a year, Feb to Feb, Home sale prices fell 17% in SCW, even more than the Wisconsin average.
Home sales were down 5.5% in Wisconsin, But down 13.2% in Madison’s SCW region.
These declines are amongst the highest home sale statistics in the State in most part because the rest of the state has seen greater declines in previous years and Madison is just catching up. There is also the fact that the area may have been more inflated in the first place.
Either way, with low interest rates, it is still a very affordable time to make an investment in a home. Afford-ability of homes has never been better (see graph)
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