Report by Zillow.com says median home value in Dane County dropped 2.1 percent
The median home value in Dane County dropped 2.1 percent to $216,839 during the past year, according to a report issued Tuesday by Zillow.com, a real estate information Web site.
The report, which compared the first quarter of 2008 to the same period last year, analyzes the median value of all homes and not just those that have been sold recently.
Dane County's decline was much less than the national decrease of 7.7 percent, which was the biggest year-over-year decline in 12 years.
Changes in median home values fluctuated among Dane County communities.
The biggest declines were reported in Lodi, down 14.9 percent to $259,504; the town of Windsor, down 8.9 percent to $213,827; and Cambridge, down 8.6 percent to $177,687.
Declines also were reported in Brooklyn (4.2 percent), Cottage Grove (4.5 percent), Dane (6.2 percent), DeForest (4.2 percent), Deerfield (4 percent), Fitchburg (6.2 percent), Madison (1.7 percent), Mazomanie (1.3 percent), McFarland (4 percent), Middleton (1.6 percent), Monona (3.6 percent), Oregon (3.9 percent), Stoughton (0.3 percent), Sun Prairie (3.1 percent) and Waunakee (4 percent).
Blue Mounds, where the median home value rose 6.1 percent to $250,971, had the largest increase. Home values also increased in Belleville (5.2 percent), Black Earth (1.7 percent), Cross Plains (0.6 percent), Morrisonville (6 percent), Mount Horeb (0.6 percent) and Verona (0.3 percent). Marshall's median home value was unchanged.
In Madison, the worst neighborhood declines were in Worthington Park, down 14.2 percent to $134,520; Nakoma, down 12.9 percent to $392,518; and East Bluff, down 12 percent to $109,423.
The biggest neighborhood increases were in Faircrest, up 7.9 percent to $299,659; Bay Creek, up 6.1 percent to $208,306; and Old Middleton Greenway, up 5.7 percent to $268,037.