Housing "crisis" to spare Wisconsin
According to a report released by the U.S. conference of mayors, the fallout from the mortgage crisis will be minimal in Wisconsin. In 2008, the (national) economy will grow at a rate of 1.9%; however, the economies of Wisconsin cities are expected to grow between 2.3% and 3.4%. The result is better in Wisconsin because area prices and mortgage values did not climb as much or as rapidly as in other parts of the country.
According to the report, house prices will remain stable, if not increase slightly, in Wisconsin. Nationally, home prices will fall 7% in 2008, the report says. The prediction tracks with a report last week from the Wisconsin Realtors Association. That report found that in the third quarter, home prices rose 2.4% statewide to a median of $170,000, compared with $166,000 a year earlier.
The National Association of Realtors also came out with a report stating the existing home sales are to increase in 2008 as well. Home prices are also expected to climb throughout 2008.
Predictions are also for December of 2007 to be stronger then November of 2007.
As for your Cherokee Park neighborhood, market statistics are showing the following:
Residential Homes Sales
Active Listings: 3
Average Asking Price: $310,900
Average Price per Square Foot: $120
List Price Range: $279,900 (high) to $352,900 (low)
1 home with an accepted offer
November 2007 Sales: 0 Sales
* All information obtained through the SCWMLS courtesy of Mindy Allen, Keller Williams Realty.
Comments(0)