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Madison, WI Home Values Skyrocket with Increased Demand

Madison, WI home values are increasing at a high rate thanks to increasing demand and a flourishing economy, according to a new report.

"New property assessments show a healthy 7.4% rise in real estate values, including the fifth straight increase in the value of the average single-family home, which jumped 5.8% for the second straight year to $284,868," according to NationalMortgageNews.

According to Mayor Paul Soglin, the economy in Madison has been seeing solid growth, making the city "a great place to live."

"The higher assessments are fueled by a 6.8% increase in total residential values, a pinch higher than last year, and 8.5% rise in commercial values, which is solid but less than the whopping 12.9% leap last year that was fueled by construction of big apartment buildings and a special focus on hotel revaluations," said city assessor Mark Hanson, according to the report.

This is also good news for single-family homeowners who will see a bit of relief in tax burdens.

To learn more about Madison's increase in home values and more, click on the image above.

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