About Madison's Capital Neighborhoods

One of the really cool things about living in the central city is the vibrant community groups that seem to thrive here.

One of them is the Capitol Neighborhood, Inc. If you want to get plugged in to what's happening both on a cultural and quality of living standpoint in central Madison, joining this group is a must.

Visit their website by clicking here.

I just wanted to share 2 upcoming events that might be of interest to my readers:

1) Architecture of Downtown Madison-May 28 at 7 p.m. Gate of Heaven in James Madison Park. Jim Drager, deputy preservation officer with the WI Historical Society will help us recognize architectural styles, discuss notable Madison architects and lead a discussion on new ways to think about the places we think and work.

2) Annual Meeting featuring Madison's Cultural Plan-June 18 at 7 p.m. at Monona Terrace Community and Convention Center. Former Madison alder Noel Radomski will touch on a number of topics including the cultural plan that the city will soon undertake. In addition awards will be presented for exemplary service and contributions to the health of our downtown neighborhoods. There will also be elections of district representatives to the Capitol Neighborhoods Executive Committee.

Existing-Home Sales Expected in Early 2008, then Gradual Rise

Over the next few months, existing-home sales are expected to hold fairly steady as indicated by pending sales activity, then rise later in the year and continue to improve in 2009, according to the latest forecast by the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said there is a pull and tug exerting itself on the market. "On the one hand, we have a pent-up demand from the four million jobs added to our economy over the past two years of sales decline," he said. "On the other, consumers continue to wait for additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase."

NAR also encourages the Fed to make a single lump-sum cut in the Fed funds rate to 3.5 percent at the January Federal Open Market Committee meeting, rather than a series of modest cuts throughout the year. "Consumers are also looking to market-time interest rates, and the expectations of further rate cuts are pushing some home buyers to delay. Monetary policy will be much more effective with a one-time large cut, rather than a series of small cuts," Yun added.

As for your Capital Neighborhoods, statistics are showed the following for 2007:

Residential Homes Sales

Active Listings: 27

1 home with an accepted offer

Average List Price: $365,762

Average Price per Square Foot: $187

List Price Range: $1,050,000 (high) to $131,900 (low)

2007: 36 Sales

Average List Asking Price: $273,047

Average List Price per Square Foot: $178

Average Sold Price: $261,345

Average Sold Price Per Square Foot: $171

Average days on market: 94

Condominiums:

Active Listings: 179

9 under contract

Average List Price: $397,562

Average Price per Square Foot: $286

List Price Range: $2,750,000 (high) to $110,000 (low)

2007 Sales: 193 Sales

Average List Price: $321,996

Average Sold Price: $315,867

Average List Price per Square Foot: $269

Average Price per Square Foot: $264

Sold Price Range: $1,095,000 (high) to $108,478 (low)

Average days on market: 178

* All information obtained through the SCWMLS courtesy of Mindy Allen, Keller Williams Realty.