Where do foreclosures have the biggest market impact?

We recently shared how foreclosures have grown by Dane County location. We also shared information on how foreclosure density varies throughout the county.

Another useful way to look at foreclosure statistics is to compare the number of foreclosures for a given location to the demand for housing within that location. We've done that in the tables below by calculating foreclosures as a percent of homes and condos sold for the year 2008. The higher the number, the greater the impact we expect foreclosures to have on a local market.

The average for all of Dane County is 25%.

Two patterns emerge when we look at the data at more localized levels. First, Madison locations tend to have lower foreclosure ratios compared to the county average. There are some exceptions, however. The zip codes 53714 (30%), 53704 (34%) and 53713 (58%) all have ratios above the county average.

The other pattern is most surrounding community locations have ratios above the county average. The highest ratios among the community group are in DeForest (42%), Stoughton (45%), Dane (67%) and Cambridge (106%). Middleton is well below the county average at only 8%.

Below are the numbers for Madison East, Madison West and surrounding community locations.

Thanks to Andy Lewis and Russ Kashian for sharing their foreclosure data. The home and condo sales data comes courtesy of the South Central Wisconsin MLS.

We'll be updating our foreclosure numbers for the month of May later in the week.

Have a good Sunday,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com