Sherman Village is a nice neighborhood in a great location on Madison’s north side. It is located a few blocks north of Warner Park, where you can see the Madison Mallards baseball team, Rhythm & Booms, and other activities&events each summer. It’s also far enough away from Sherman Ave & Northport Dr, so there is not a high amount of traffic. There is easy access to downtown, just head south on Sherman Ave about 10 minutes or so to get to E. Johnson and the downtown area. Or for a quieter setting, head northwest 5-10 minutes to Governor Nelson State Park on Lake Mendota.
Sherman Village connects to Northland Manor and Wheeler Heights, and they are all essentially the same neighborhood. Most of the homes are small ranches built in the 60’s. It is a great neighborhood for first-time home buyers and young families. There is even an elementary school (Gompers), middle school (Black Hawk), and 3 parks (Sherman Village, Northland Manor & Wheeler Heights) located right in the neighborhood.
Here is a market update for the Sherman Village area (Sherman Village, Northland Manor & Wheeler Heights neighborhoods):
These are market statistics from the MLS for January-October each of the past 5 years. As you can see, and as expected, the average sale price has seen a decline this year. Dane County as a whole has seen a 9% decline in average sale price over the same time period (see Dane County Market Statistics). So Sherman Village area’s decline of 5.5% is actually better than the Dane County average. The recession is obviously one reason for the decline. Also, the fact that there was 89% appreciation in home values from 2000-2006 is cause for decline in values the past couple of years. (see Home Value Depreciation was Inevitable). Another factor, which is connected to the recent recession we have seen, is the large number of foreclosures. For example, there are 12 active listings in the Sherman Village area, and 2 of these listings have accepted offers – both are foreclosures with an average list price of $142,400. One of these is 4414 Maryland Dr, which needs A LOT of work, and will probably be worth around $200,000 when fixed up.
Here is a link to the 10 current houses for sale in the Sherman Village area: View Properties.