There has been a lot of letters to the editor in the Mt. Horeb Mail disputing Mt. Horeb as recession proof. I have to agree. We may not see the drastic changes that some places are seeing but we are still feeling it. As one letter pointed out: Look at the stagnant business park and the surrounding new development sitting largely vacant.
In real estate terms, we have seen a decrease is sale prices from 2007. Perhaps these declines are not what other more urban areas are seeing, and we certainly are not seeing the number of foreclosures and short sales as those areas are experiencing, but the current numbers suggest a decline nonetheless.
The numbers (taken from Southcentral Wisconsin MLS):
2007 and 2008 average list prices are about the same: $308K.
2007 Average SOLD price: $244,845 in 106 homes sold.
2008 Average SOLD price (so far): $224,844 in 87 homes sold.
Overall I'd say Mt. Horeb is fairing pretty well. The sales decrease in units is down just shy of 18% year over year. If you look at other cities and villages in Dane County (especially the Eastern sections) you'll see percentages over 30%.
Gotta love the conservative Scandanavian culture for keeping things more in check.
Posted by: Darren K | December 01, 2008 at 07:17 PM