The Wisconsin State Journal reports on how home values have skyrocketed (not SpaceX Starship rocketed) recently with the average value of a house here going north of $400,000.
Home values have risen 13.5% since 2022, pushing the average home value in the city to $424,400, according to new city assessment data released Friday.
The Lake Edge neighborhood, just south of me, had the highest jump with the average home value going up 22.8%. Here in Eastmorland, the average value increased by 13.5%. Our house's assessment went up by $42,500.
Uff da!
The article notes that home values on the south side have gone up significantly as well.
The ongoing shift in the city's real estate market is most stark on the South Side. In Burr Oaks and Bram's Addition, the two most affordable neighborhoods in Madison, home values rose 41.5% and 29%, respectively, over the last two years.
"Affordable" also means less white here. I think we're heading for trouble with minorities keen on home ownership being met by the white establishment with "Let them live in apartments".
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