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Home starts plummet in Dane County

The Capital Times  —  8/07/2008 9:31 am

New home construction in Dane County has taken a nose dive, according to figures released by MTD Marketing Services LLC.

Only 430 building permits for single family homes and duplexes have been issued in Dane County through the first seven months of 2008 in 51 municipalities included in the report, down 40 percent from the 716 permits issued during the same period last year.

All 34 towns in Dane County are included in the report, but villages and cities on the county's borders (Belleville, Cambridge, Brooklyn, Blue Mounds and Edgerton) as well as Maple Bluff and Shorewood Hills are not included in the report.

The year to year July comparison shows 50 permits issued this July compared to 85 in July last year, a 41 percent decline.

In the city of Madison, 95 permits have been issued for new home construction this year, down 55 percent from the 213 permits issued through July last year.

Several municipalities showed gains in construction so far this year, including both the city and town of Middleton, the city of Sun Prairie and the village of Cottage Grove, but most cities and villages show declines in construction, including a 51 percent drop in Verona (58 permits last year, 28 this year), a 41 percent drop in Waunakee (66 permits last year, 39 this year) and an 85 percent drop in De Forest (20 permits last year, three this year).

The dollar value of permits issued also took a tumble.

Year to date, dollar value of permits issued in the 51 municipalities included in the report is $117,233,500, down 34 percent from $177,869,000 a year ago.

With a 40 percent decline in number of permits, however, the per permit average value increased from $248,420 last year to $272,636 this year.

Average square footage per home also increased, going from 2,403 square feet per home last year to 2,587 square feet this year.

The Capital Times  —  8/07/2008 9:31 am