Madeline Island Luxury Homes Located Near Town are in Demand
The following statistics are based on a relatively small sample, but they point to something we've suspected for awhile now. Homes located within three miles of the Town of LaPointe appear to be increasingly in demand.
Of the six most recently-closed sales of homes in the 54850 zip code which sold at over half a million dollars, five of these six sales were homes situated within three miles of the Madeline Island Ferry dock. The only recently sold upper-bracket home that was not close to town was a property on Chippewa Trail, over twelve miles from downtown LaPointe.
Examples of sold homes which point to this trend are abundant. The sales of 351 Old Fort Road (the former "Chateau Madeline") in 2012, 933 Nebraska Row ("Woods Manor") and 570 Leona's Road in 2013 and 741 Main Street in 2014 all point to the popularity of the residential zone within and immediately surrounding Madeline Island's commercial district.
What's driving this increased popularity of homes located near downtown LaPointe? Some of our buyers tell us they prefer to be close to town shopping and dining. Sailors and golfers appear to prefer proximity to the Madeline Island Marina and Yacht Club, and to the Island's Robert Trent Jones-designed golf course.
Whatever the reason, it seems we receive over twice as many inquiries about properties close to town than we do for listings on the northern two-thirds of Madeline Island. This may be a temporary phenomenon, but it shows the strong and durable popularity of the historic district on the southwest tip of our Island.
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